The U.S. Consumer Financial Protection Bureau is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency’s first foray into consumer investments.
“That’s one of the things we’ve been exploring and are interested in in terms of whether and what authority we have,” bureau director Richard Cordray said in an interview. He didn’t provide additional details.
The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams, according to three people briefed on the CFPB’s deliberations who asked not to be named because the matter is still under discussion.Read the rest HERE.
"The bureau’s core concern is that many Americans, notably those from the retiring Baby Boom generation, may fall prey to financial scams"...Yeh, BIG BROTHER is worried your to stupid to manage your money.....Perhaps they feel YOU NEED THEIR HELP?