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U.S. President Joe Biden speaks during the 59th presidential inauguration in Washington, D.C., U.S., on Wednesday, Jan. 20, 2021. Biden will propose a broad immigration overhaul on his first day as president, including a shortened pathway to U.S. citizenship for undocumented migrants - a complete reversal from Donald Trump's immigration restrictions and crackdowns, but one that faces major roadblocks in Congress. Photographer: Kevin Dietsch/UPI/Bloomberg President Joe Biden speaks Wednesday at his inauguration. (Photo: Kevin Dietsch/Bloomberg)

On the first day of his administration, President Joe Biden pledged “to take a historic number of actions to deliver immediate relief for families across America,” including two that could affect the clients of financial advisors: extending the moratorium on federal student loan payments through September and a review of the Labor Department’s regulation limiting the use of ESG-focused investments in defined contribution retirement plans.

A fact sheet listing Biden’s “Day One Executive Actions” says Biden will ask the Department of Education “to consider immediately extending the pause on interest and principal payments for direct federal loans until at least September 30, 2021.”

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Bernice Napach

Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.

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