The Daily Consumer Radio Newscast
A federal appeals court has driven the final nail in the coffin of the fiduciary rule, an Obama Administration proposal designed to protect investors and retirement savers. The court ruled the Labor Department exceeded its authority when it established the rule for financial advisers.
General Motors reportedly plans to enter the car sharing market later this summer by starting a pilot program for owners of GM vehicles to rent their cars to other consumers. GM declined to comment on the report from Bloomberg News.
The U.S. Census Bureau reports that an emerging demographic trend spells trouble for future retirees. By 2030 -- 12 years from now -- senior citizens will outnumber children in the U.S. That's the year in which all baby boomers will be 65 or older and one in five people will be of retirement age.
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