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Obama proposes tougher consumer rules to protect IRA investors
Obama proposes tougher consumer rules to protect IRA investors

President Obama on Monday proposed tougher regulations on investment brokers who handle retirement funds, saying new rules would limit hidden fees, “back-door payments” and conflicts of interest that eat into middle-class Americans’ savings. Warning against advisors who are “bilking” clients and selling “snake-oil,” Obama billed the move – a revival of a effort quashed by industry opposition four years ago -- as part of his renewed focus on a populist economic message. He stood with consumer advocates, retirees and Sen. Elizabeth Warren (D-Mass.), the liberal favorite who has pushed the administration to tighten Wall Street regulations. ...

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