The Department of Labor has issued two opinions that bankers say will level the playing field between banks and nonbank servicers of 401(k) and other retirement plans.

In letters responding to queries by Frost National Bank, San Antonio, and Aetna Life Insurance and Annuity Co., Hartford, Conn., the Labor Department gave banks the go-ahead to collect fees from the mutual funds they service while acting as trustees for the retirement plans that offer the funds.

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