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Obama Presses Fiduciary Rule to Shield Retirement Funds
President Obama urged tougher rules for brokers handling retirement savings to curb hidden fees and conflicts of interest. The proposed fiduciary standard would require advisers to put clients first, potentially affecting Wall Street practices and sparking lobbying from industry groups and support from consumer advocates. The plan, requiring White House review before public comment, targets millions of savers and seeks to ensure retirement guidance is in investors' best interests.
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Washington
Barack Obama
Elizabeth Warren
D-Mass
Wall Street
Obama
AARP
White House
Council of Economic Advisers
Department of Labor
Wal Street
Labor Department