Groom principal Allison Itami was quoted by The Wall Street Journal in the article, “Biden’s ‘Junk Fee’ Crackdown Comes for Retirement Advice,” where she assessed the Department of Labor and the Biden Administration’s efforts to update the fiduciary rule.
The Wall Street Journal reported that Itami said that “once its proposed regulation goes into effect, some players in the financial-services industry are likely to sue to block it.” According to the outlet she continued, saying that “the Labor Department knows ‘where courts have poked holes’ in the past regulations, giving it better odds of drafting a measure that might withstand legal challenges.”
To read the article, click here.
