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The House Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions held a hearing titled "Restricting Access to Financial Advice: Evaluating the Costs and Consequences for Working Families and Retirees." The hearing examined the proposal by the Department of Labor ("DOL") to expand the definition of "fiduciary," and discussed how the proposed rule would impact workers, small businesses and retirees. The following witnesses testified: Panel 1: The Honorable Thomas E. Perez, Secretary of the Department of Labor (written testimony) Panel 2: Mr. Jack Haley, Executive VP