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Headlines you need to know this week   —   July 18, 2017

House republican introduces bill to kill fiduciary rule

Congresswoman Ann Wagner of Montana introduced a bill that would eliminate the current fiduciary rule crafted by the Department of Labor. The proposal would require brokers to make recommendations that reflect “reasonable diligence, care, skill, and prudence.”

College debt an obstacle to homeownership

Rising student debt is a significant obstacle to homeownership, according to the New York Federal Reserve. Its report found that up to 35% of the recent decline in home ownership can be tied to college debt, with student loans now averaging about $37,000 for recent graduates.

Social Security COLA planned for 2018

Social Security beneficiaries will see a raise in 2018. The 2.2% cost-of-living increase is the largest increase since 2012. The Social Security Trustees also reported that Social Security is estimated to run out of funds in 2034 — the same as last year’s projection.

See what you missed last week

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