The U.S. Chamber of Commerce charges in a just-released report that new data coming out of a recent Department of Labor comment period on its fiduciary rule proves the rule is hurting small retirement savers.
The report, "The Data is In: The Fiduciary Rule Will Harm Small Retirement Savers," compiles survey statistics and other data submitted by various organizations in response to the recent comment period opened up as part of President Trump's Feb. 3 directive to review the rule.
Chamber says that its survey indicates that the DOL "underestimated the negative effects of the rule, particularly in reducing access to advice for small retirement savers and small businesses."
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
