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Saving for retirement: Obama proposal sets up Wall St. fight
Tapping the anxieties of aging baby boomers, President Barack Obama last week called for tougher standards on brokers who manage retirement savings accounts, a change that could affect the investment advice received by many Americans and aggravate tensions between the White House and Wall Street.
Labor Secretary Tom Perez, left, and Sen. Elizabeth Warren, D-Mass., listen as President Barack Obama speaks at AARP in Washington. Obama says too few Americans approaching retirement have saved enough to have peace of mind during their later years.
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