Scrap
SEC votes to scrap mutual fund ‘12b-1′ fees
By Mark Jewell, Associated PressBOSTON — The Securities and Exchange Commission on Wednesday voted to revamp fees that most mutual funds charge to cover sales and distribution costs, and that have become a source of confusion for investors and industry insiders alike.
Revenue from so-called “12b-1″ fees can be used for a wide range of fund services beyond upfront sales costs, and an investor can pay the fees for years after they’ve gotten › Continue reading
Congress May Scrap Credit Card Watch Dog Agency
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The proposed Consumer Financial Protection Agency, a key feature of the new financial overhaul legislation currently being negotiated in the U.S. Senate, may be about to get the axe, according to the Wall Street Journal. The watch dog agency was originally proposed to protect consumers from deceptive practices in the marketing and servicing of credit cards, mortgages, and other types of financial products.
As part of reaching a deal › Continue reading