If you've read this thread --- then you've heard me complain about hidden fees -- etc --- and particularly --- in company retirement plans... and MUTUAL FUNDS.... and how these can affect your account dramatically over time.
I'll give Obama credit for finally trying to do something about it (I won't give him credit for much else). It's just ABOUT TIME someone quits ripping people off!
President Obama will order the Labor Department on Monday to begin developing new rules for financial managers who handle retirement accounts for working Americans.
The goal is to end "hidden fees that hurt consumers and back-door payments that help Wall Street brokers," said a statement from White House senior adviser Brian Deese.
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