New regs for Thursday: Financial advisers, power plants, consumers

Thursday’s edition of the Federal Register contains new rules for power plants and financial advisers, and a study on the consumer reporting industry.

Here’s what is happening:

Retirement: The Department of Labor is delaying the Obama-era fiduciary rule.

The fiduciary rule, which was set to go into effect next week, required retirement financial advisers to act in the best interest of their clients. But the Trump administration is delaying the rule by 60 days.

This will give the Labor Department more time to kill the fiduciary rule. But until then, it is now scheduled to go into effect on June 9.

Consumers: The Consumer Financial Protection Bureau (CFPB) issued a study on the consumer reporting industry.

The CFPB released the report last month, but is now formally posting it in the Federal Register, which makes it official.

The study looks at “consumer reporting companies, and at companies that furnish information to consumer reporting companies.”

Power plants: The Environmental Protection Agency (EPA) is temporarily changing the electronic reporting requirements for coal and oil power plants.

The changes go into effect immediately.