FACC Fights For Independence: Issues & Positions – Federation of Americans for Consumer Choice

Federal

Department of Labor (DOL) Fiduciary Rule

National Association of Insurance Commissioners (NAIC)

Best Interest Model Adoption
NAIC Best Interest Model – FAQ
NAIC Life Illustration Working Group

State Regulation

FACC remains committed to ensuring a fair regulatory environment that preserves consumer choice and protects independent distribution. In 2025, our advocacy efforts will focus on key legal, regulatory, and legislative priorities affecting financial professionals, insurers, and the consumers they serve.

Through these initiatives, FACC remains a steadfast advocate for independent distribution, consumer choice, and a regulatory environment that fosters innovation and accessibility in financial services.

Defending Against Regulatory Overreach

FACC v. DOL – 2024 Fiduciary Rule & 2020 Final Interpretation
FACC continues its legal challenge against the Department of Labor’s evolving fiduciary rules, emphasizing the need for stability in regulation. Ongoing rule changes create uncertainty for consumers and place disproportionate burdens on small and mid-sized insurance agencies, restricting access to a diverse range of financial products.

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Adapting to a Changing Federal Landscape

FACC believes that every state should adopt the Strategic Planning for a New Administration in Washington
As leadership in Washington shifts, FACC will pivot to ensure clear communication and advocacy that aligns with the evolving priorities of policymakers. Our focus remains on maintaining an open dialogue with regulators and legislators to support independent distribution and consumer-driven financial solutions.

Promoting Uniform Best Interest Standards

NAIC Best Interest Model Adoption & State Alignment
FACC advocates for the widespread adoption of the NAIC’s Annuity Transactions Model (#275) without deviation. A consistent regulatory framework across all states ensures clear compliance standards for professionals and stronger protections for consumers while avoiding unnecessary administrative complexity.
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Monitoring Regulatory Impacts on the Industry

NAIC IUL Illustration Model Reform
FACC is actively engaged in discussions on potential changes to Indexed Universal Life (IUL) product illustrations, ensuring that any revisions balance transparency with the ability of insurers and advisors to provide competitive, consumer-friendly options.

Medicare Advantage & Supplement Commissions
While details on forthcoming regulatory actions remain uncertain, FACC is closely monitoring and actively engaged with developments in Medicare Advantage and Supplement plans.

Privacy & Big Data Usage Limitations
The regulatory landscape surrounding data collection continues to evolve, imposing new restrictions on what agents and carriers can utilize for marketing, underwriting, and claims processing. FACC is analyzing how these privacy regulations impact business decisions, underwriting accuracy, and consumer access to tailored financial solutions.

Encouraging Tax Incentives for Long-Term Care

Tax Exemption for LTC Hybrid Annuities & Guaranteed Income Riders
With states increasingly exploring tax policies related to Long-Term Care (LTC) coverage, FACC is working to ensure that annuities and life insurance products with LTC riders qualify for tax exemptions. Expanding tax incentives for these hybrid products encourages broader consumer adoption and strengthens retirement security.