Complaint Filed in the U.S. District Court for the State of Texas on DOL’s Fiduciary Rule

The U.S. Chamber of Commerce, Financial Services Institute, Financial Services Roundtable, Greater Irving-Las Colinas’ Chamber of Commerce, Humble Chamber of Commerce, Insured Retirement Institute, Lake Houston Area Chamber of Commerce, Lubbock Chamber of Commerce, Securities Industry and Financial Markets Association, and Texas Association of Business filed a summary judgment motion in their ongoing litigation against the U.S. Department of Labor. The filing is part of a federal lawsuit filed on April 30th, challenging the Labor Department’s fiduciary rule. AARP and the states of California, New York, and Oregon (“Movants”) have delayed until the last moment to file intervention motions to seek rehearing en banc. Their delay is unjustifiable and compels denial of their motions.