CUNA supports fight against senior scams, goes on record for hearings

CUNA brought credit union issues and concerns before several Congressional committees and subcommittees Tuesday, including on affordable housing, flood insurance and international credit union programs.

CUNA also wrote in support of the Stop Senior Scams Act (S. 149), a bill introduced by Sens. Bob Casey (D-Pa.) and Jerry Moran (R-Kansas). S. 149 would create a federal advisory council dedicated to combating senior scams.

“Financial exploitation is one of the most common forms of elder abuse. CUNA strongly supports the goal of this legislation to help seniors avoid financial exploitation and to encourage responsible decisions regarding financial management,” the letter reads. “This legislation represents an important step toward improving protection for seniors by creating a federal advisory council bringing together relevant government officials, industry representatives, advocates and consumer representatives to collect and develop educational materials for financial institutions and retailers to use in stopping scams on seniors. We are pleased to support this legislation and look forward to working with you to enact it.”

 

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