The all-but-imminent legal challenges to the Department of Labor’s fiduciary rule stand little chance of success, according to Labor Secretary Thomas Perez.
“If we get sued, we’ll be ready for it,” Perez said in a press conference with Democratic leaders in the House of Representatives on the day members passed a resolution of disapproval for the rule.
That resolution passed the House on nearly a party-line vote, with only one Republican voting against it, and no Democrats voting for it. If the Senate passes the resolution of disapproval, the White House has said President Obama will veto it.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
