WASHINGTON, DC (February 1, 2017) —
The Honorable Susan Collins
Chairman
Special Committee on Aging
United States Senate
Washington, DC 20510
The Honorable Bob Casey
Ranking Member
Special Committee on Aging
United States Senate
Washington, DC 20510
RE: Tomorrow’s Hearing: “Stopping Senior Scams: Developments in Financial Fraud Affecting Seniors”
Dear Chairman Collins and Ranking Member Casey:
On behalf of the National Association of Federally-Insured Credit Unions (NAFCU), the only trade association exclusively representing the federal interests of our nation’s federally-insured credit unions, I am writing to you regarding tomorrow’s scheduled hearing to identify developments in financial fraud targeting American seniors. We appreciate the Senate Aging Committee’s continued focus on this issue and look forward to working with you to address these challenges.
Although the hearing will be focused on examining the top financial scams affecting seniors, should there be additional discussion about the Senior$afe Act of 2017 (S. 223), we would like for the committee to know our support of this important bipartisan legislation and our desire to work with the committee on this important issue.
NAFCU believes this legislation would improve safeguards for seniors, protecting them from financial fraud, while providing legal cover for financial services employees to properly report suspicions of this financial abuse. If passed, it would also incentivize credit unions and financial institutions to adequately train their employees on how to best identify and report predatory targeting practices of seniors to the appropriate authorities. It is imperative that credit unions be able to protect and serve their senior members as they plan for retirement and seekcounseling on how to properly manage their credit and savings.
Thank you again for holding this hearing. We look forward to working with the committee as you move forward to address these issues and to work with you to advance the Senior$afe Act of 2017. Should you have any questions or require any additional information please contact me or Allyson Browning, NAFCU’s Associate Director of Legislative Affairs, at 703-842-2836 or abrowning@nafcu.org.
Sincerely,
Brad Thaler
Vice President of Legislative Affairs
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
Marisol Garibay
Vice President, Communications & Media Relations
National Association of Federally-Insured Credit Unions
3138 10th Street North
Arlington, VA 22201
O: (703) 842-2820 ext. 291
mgaribay@nafcu.org
Amanda Dela Cruz
Associate Director, Communications
National Association of Federally-Insured Credit Unions
3138 10th Street North
Arlington, VA 22201
O: (703) 842-2263 ext. 263
M: (571) 447-0022
adelacruz@nafcu.org
