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U.S. Department of Labor
Cummings looks for tougher rules on retirement plans
Cummings looks for tougher rules on retirement plans

WASHINGTON -- Rep. Elijah E. Cummings, who is considering a run for Senate in Maryland, called Tuesday for tougher regulation of financial advisers who help people plan for retirement, becoming the latest Democrat to weigh into an issue under review by the Obama administration. "In my neighborhood, when someone tries to trick you out of your money and rip you off, we call it a 'hustle,'" the Baltimore Democrat said, repeating an often used line about how his 7th Congressional District is based in the "inner-inner city." "But sadly, today, thanks to loopholes and outdated rules, some financial advisers can hustle hard-working Americans out of their...

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