Hours after the Labor Department unveiled significant amendments to the final version of its fiduciary rule, several Republican members of Congress vowed to roll back the new regulations – though the likelihood of success is low.
Rep. Jeb Hensarling (R-Texas), the chairman of the House Financial Services Committee, says the rule will harm millions of Americans by raising the costs of financial planning. He urged his fellow congressmen to overturn the "unfair" regulation.
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