By Jeff Mason and Sarah N. Lynch WASHINGTON (Reuters) - U.S. brokers and financial advisers would face new constraints under a plan President Barack Obama put forward on Monday to reduce conflicts of interest and "hidden fees" that cost Americans billions of dollars in retirement savings every year. In proposing the rules, Obama said he sought to protect Americans from being steered into costly retirement investments that produced high commissions for brokers but low returns for investors preparing for retirement. Democrats and Republicans are trying to position themselves as champions of the middle class in the run-up to the November 2016 presidential election. The proposed rules, which the Department of Labor is expected to submit formally in the coming months, will inject political pressure into an already intense debate over brokers' obligations.
Action News has learned that Philadelphia Eagles safety Nate Allen has been cleared of any wrongdoing after being accused of a lewd act, which led to him being detained by police in Fort Myers, Florida last week.
By Dan Whitcomb LOS ANGELES (Reuters) - A U.S. lawmaker on Monday called on the Congress to investigate the medical scopes blamed for an outbreak of a bacterial "superbug" at a University of California, Los Angeles hospital that has infected seven patients. Representative Ted Lieu, a Democrat from California, said in a letter asking for a congressional oversight committee hearing that the outbreak of the drug-resistant Enterobacteriaceae, or CRE, bacteria posed "both health and national security" risks. Officials say the duodenoscopes, which are inserted down a patient's throat during gastrointestinal procedures, spread the antibiotic-resistant bacteria to seven patients at the UCLA Ronald Reagan Medical Center, contributing to two deaths.
WILMINGTON, Ohio (AP) — In a story Feb. 22 about the recession-battered city of Wilmington, The Associated Press erroneously reported the mayor's first name. His name is Randy Riley, not Richard Riley.