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Disapproval of Changes to Retirement Financial Advice Rules.

This resolution aims to nullify changes made by the Department of Labor regarding financial advice rules for retirement. This means the previously amended rules will not take effect, potentially impacting how financial advisors offer services related to retirement savings.
Key points
Congress opposes the Department of Labor's new financial advice rules.
Changes to retirement advice rules will not be enforced, maintaining existing regulations.
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Status:
Expired
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Additional Information
Print number: 118_HJRES_140
Sponsor: Rep. Allen, Rick W. [R-GA-12]
Process start date: 2024-05-15
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Labor relating to "Amendment to Prohibited Transaction Exemption 2020-02".

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HJRES_140.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-05-15.

What are the main provisions?

Key points include:

  • Congress opposes the Department of Labor's new financial advice rules.
  • Changes to retirement advice rules will not be enforced, maintaining existing regulations.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Allen, Rick W. [R-GA-12].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Education and the Workforce.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Labor Economy