Changes to cost California retirement savers $1.2 billion

By Suzanne Potter, Public News Service, California

September 5, 2017 (Washington D.C.) -- Just days before Labor Day, the Trump administration announced two policies that consumer advocates say hurt the average worker and favor Wall Street and big business.

On Wednesday, the Labor Department announced it is delaying by 18 months’ enforcement of key parts of the Obama-era Fiduciary Rule, which requires financial advisers to put clients' interests above their own when recommending investments.