# Insurance lobbyists block federal crackdown on costly retirement advice **URL:** \ **Category:** Retirement Investing\ **Created:** [August 12, 2024, 8:21am UTC](https://discussion.fool.com/t/insurance-lobbyists-block-federal-crackdown-on-costly-retirement-advice/107967 "2024-08-12T08:21:47Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![intercst](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/intercst/32/1543_2.png) [@intercst](https://discussion.fool.com/u/intercst)\ **Post date:** [August 12, 2024, 8:21am UTC](https://discussion.fool.com/t/insurance-lobbyists-block-federal-crackdown-on-costly-retirement-advice/107967/1 "2024-08-12T08:21:47Z")
# Insurance lobbyists block federal crackdown on costly retirement advice The financial services industry has blocked the Biden administration from requiring brokers to put retirees’ needs first — above lucrative commissions free link: [https://wapo.st/46FDMu0](https://wapo.st/46FDMu0) Remember, the quality of your retirement is inversely proportional to the amount of money you’ve lost to fees, commissions, trading costs and taxes over the years. intercst ---
**Author:** ![RHinCT](https://sea2.discourse-cdn.com/motleyfoolfree/user_avatar/discussion.fool.com/rhinct/32/1236_2.png) [@RHinCT](https://discussion.fool.com/u/RHinCT)\ **Post date:** [August 12, 2024, 12:27pm UTC](https://discussion.fool.com/t/insurance-lobbyists-block-federal-crackdown-on-costly-retirement-advice/107967/2 "2024-08-12T12:27:42Z")
I don’t have a Washington Post subscription but I found an article about what it was that the lobbyists opposed. > **[Labor Department issues rule to crack down on bad retirement savings advice](https://www.cnbc.com/2024/04/23/labor-department-issues-rule-to-crack-down-on-bad-retirement-savings-advice.html)** > > The Biden administration issued a final "fiduciary" rule that aims to rein in conflicts of interest that officials say erode Americans' savings.