WASHINGTON – U.S. Senator Ben Cardin (D-Md.), a member of the Senate Finance Committee and a longtime, vocal advocate for increasing retirement security for all Americans, issued the following remarks in response to the U.S. Department of Labor final fiduciary rule.
“A best interest standard is key to ensuring Americans receive financial advice they can trust and to combatting truly abusive behaviors in our financial system. As I have said throughout this rulemaking process, it is critical that a final fiduciary rule be workable and useable, and enhance savings opportunities and retirement security for small businesses and moderate income families. I look forward to reviewing the announced changes with these concerns in mind.”