Thrivent Financial for Lutherans became the sixth plaintiff to sue the U.S. Labor Department over its fiduciary rule in a complaint that challenges the class action waiver requirement under the rule’s best interest contract exemption.
Thrivent’s case, filed in U.S. District Court for the District of Minnesota, takes issue with the Labor Department’s adoption of the best-interest contract exemption to the extent it requires Thrivent to abandon its commitment to alternative dispute resolution. The insurer also contends DOL’s rule would require its sales reps to become fiduciaries.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
