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A Texas federal judge on Wednesday upheld the Labor Department's fiduciary rule, which affects how financial advisers may advise clients on retirement savings.

The rule, slated to go into effect April 10, would hold advisers to a "fiduciary standard." NAFCU has aired concerns about how the rule's indirect costs would affect credit unions.

The president last week directed the Labor Department to delay implementation of the rule for further review. However, U.S. District Judge Barbara M.G. Lynn ruled that the agency had not exceeded its authority in issuing the rule.

Last month, Rep. Joe Wilson, R-S.C., introduced a bill to delay the fiduciary rule for two years. Wilson said he wanted to give the Republican-led 115th Congress and Trump administration time to reevaluate the rule.

The revised definition of fiduciary advice and the best-interest contract portion of the rule are set to take effect this April; the rest of the rule would go into effect Jan. 1, 2018.

NAFCU's updated Final Regulation on the rule is available here.