By email@example.com (Monika Greenhow)
Sen. Elizabeth Warren (D-Mass.) and Rep. Elijah Cummings (D-Md.) recently highlighted what Forbes called financial firms’ two-faced responses to the Department of Labor’s proposed rule to protect retirement investors from financial advisers’ conflicts of interest. In a letter to federal regulators, Warren and Cummings contrasted financial firms’ trashing of the rule when talking to policymakers with their message to shareholders that they shouldn’t worry—the rule is no big deal.