This week, the President announced a new initiative to protect Americans' retirement savings, hosted governors at the White House, thanked advocates for their work in securing a free and open Internet, and celebrated the first anniversary of the My Brother's Keeper initiative.
Find out more about the past week at the White House in our latest weekly wrap-up.
Protecting Your Savings
On Monday, the President announced major actions to update the rules in place to protect you and your retirement savings. Under our current system, financial advisors can accept a back-door payment or hidden fees for directing you toward a retirement plan that's not in your best interest. On average, these conflicts of interest cost Americans $17 billion in total losses every year.
"After a lifetime of hard work, you should be able to retire with dignity" —President Obama: http://bit.ly/1ASSk4G http://bit.ly/1ASSk4I
— The White House (@WhiteHouse) February 23, 2015
That's why the President is directing the Department of Labor to crack down on this kind of behavior. Check out this quick explainer video and see what the President is doing to help.
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