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U.S. Chamber of Commerce Files Amicus Brief 5-31-24

The Chamber of Commerce of the United States of America (“Chamber”) is the world’s largest business federation, representing approximately 300,000 direct members and indirectly representing the interests of more than three million businesses and professional organizations of every size, in every industry sector, and from every region of the country. Given the importance of the laws governing fiduciary conduct to its members, many of which maintain or provide services to retirement plans, the Chamber regularly participates as amicus curiae in ERISA cases at all levels of the federal-court system and successfully challenged the previous iteration of the regulation at issue as a party litigant… The Chamber submits this brief to provide context regarding ERISA’s statutory structure, to offer information about regulatory developments within other agencies that demonstrate how far the Department of Labor (DOL) has veered beyond its statutory authority, and to highlight the harm that DOL’s regulation will cause to retirement investors if it is not set aside by the Court.

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