Biden Vetoes Resolution Disapproving DOL ESG Rule

As expected, President Biden has vetoed H.J. 30, a resolution for congressional disapproval of the Department of Labor’s rule “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights.” The resolution was passed by the House and Senate earlier this month. The final rule, which generally became effective January 30, 2023, will continue to stand as a result of the veto.