NPR

5 Things To Know About Trump's Delay Of The Financial Adviser Rule

Americans are losing billions of dollars from retirement accounts to excessive fees. The Obama administration passed a rule to stop that. But President Trump has delayed the rule.
Source: RamCreativ

The Obama administration created a rule to protect millions of American workers saving for retirement. President Trump has delayed this so-called fiduciary rule, which requires financial advisers to put consumers' best interests ahead of their own.

A battle over the rule is likely to continue in the courts. In the meantime, here's what you need to know.

Today was supposed to be the day you knew you could trust your financial adviser

Monday was the deadline for the industry to comply with a new rule crafted by the Obama administration to protect Americans saving for retirement. Obama's economic team said everyday Americans are losing upwards of $17

You're reading a preview, sign up to read more.

More from NPR

NPR1 min readPolitics
House Passes $4.5 Billion In Emergency Border Aid
President Trump has threatened to veto the measure in favor of a Senate Republican version of the bill that would include about $50 million more for immigration courts.
NPR2 min readPsychology
Poll: Americans Say We're Angrier Than A Generation Ago
The latest NPR-IBM Watson Health poll found that 29% of people said they were often angry when checking the news. Another 42% said the news sometimes made them angry.
NPR2 min read
Catholic School Fires Gay Teacher To Stay In Indianapolis Archdiocese
The school says not terminating the teacher would have resulted in "our forfeiting our Catholic identity." Last week, a nearby Jesuit school decided to split with the archdiocese instead.