Insurance lobbyists block federal crackdown on costly retirement advice
https://www.washingtonpost.com/business/2024/08/11/insurance-lobbyists-block-fiduciary-rule/
https://www.washingtonpost.com/business/2024/08/11/insurance-lobbyists-block-fiduciary-rule/
Siding the end of Chevron deference, a federal court has overturned a consumer protection role designed to prevent the insurance industry and financial advisors from putting elderly clients into securities that are more lucrative for the financial advisor. The Biden administration tried to create a standard of best interest of the investor, but the Court hasn't overturned that.
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