One of the Donald Trump administration’s first orders of business on the economy will scuttle a rule protecting retirees from being scammed out of $17 billion a year by their own financial advisers.The Huffington Post
The Obama administration approved the regulation last year. The rule established a “fiduciary duty” for money managers, requiring them to operate retirement accounts in the best interests of their clients. The Trump team’s repeal will allow financial professionals to steer retirees into expensive or poor-performing products that carry economic benefits and perks for the advisers and their firms, without disclosing such conflicts of interest....
Donald Trump Signs Huge Wall Street Giveaway
Zach Carter | Senior Political Economy Reporter