Doling out financial advice at credit unions could soon look a lot different if controversial new rules proposed in April by the Department of Labor take effect.

The complex set of regulations, exemptions and amendments generally revolve around expanding the number of professionals subject to fiduciary best interest standards, as well as when it’s OK to provide what the Employee Benefits Security Administration calls “conflicted advice” – advice provided by advisors who receive payments that depend on the actions taken by the advisee, such as mutual fund 12b-1 fees and sales loads, payouts for reaching sales targets, and variable commissions for selling individual stocks, insurance products and other financial products.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?

Tina Orem


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.