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Fiduciary Rule Can't Block Thrivent Arbitrations, Judge Says

Law360, New York (November 6, 2017, 3:32 PM EST) -- A Minnesota federal judge on Friday blocked the U.S. Department of Labor from enforcing the anti-arbitration provision of its fiduciary rule for retirement advisers against Thrivent Financial, saying the provision will harm the company even if, as the DOL plans, it never takes effect.

Though the DOL has called the provision illegal and said it plans to roll back parts of the Obama-era rule, the “state of regulatory limbo threatens Thrivent with harm that cannot be remedied monetarily,” U.S. District Judge Susan Richard Nelson said....
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Case Title

Thrivent Financial for Lutherans v. Perez et al


Case Number

0:16-cv-03289

Court

Minnesota

Nature of Suit

Other Statutes: Administrative Procedures Act/Review or Appeal of Agency Decision

Judge

Susan Richard Nelson

Date Filed

September 29, 2016

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