House Passes Measure to Combat Senior Financial Exploitation and Abuse

House Passes Measure to Combat Senior Financial Exploitation and Abuse

Will Promote More Communications with Law Enforcement to Protect Seniors

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI Senior Vice President and General Counsel, Lee Covington, after H.R. 2255 was unanimously adopted by the U.S. House of Representatives last night. Title III of this legislation contains provisions of the Senior$afe Act of 2017 (H.R. 3758).  

“IRI commends Representatives David Trott (R-MI) and Josh Gottheimer (D-NJ) for the bipartisan leadership they have displayed in advancing H.R. 2255 before the House. This bill includes the provisions of the Senior$afe Act of 2017, a bill previously introduced by Representatives Bruce Poliquin (R-ME) and Krysten Sinema (D-AZ). By adopting this legislation, the members of the U.S. House of Representatives have taken a positive step forward to enacting into law a measure to combat financial exploitation and abuse of older Americans.

Preventing financial elder abuse and protecting older Americans from financial exploitation is at the top of IRI’s legislative agenda. The Senior$afe provisions will promote more communication among advisors, their firms and the appropriate governmental and law enforcement agencies when financial exploitation is suspected.

IRI is proud to support this legislation and calls upon the members of the U.S. Senate to expeditiously take up this bill and enact it into law.”

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For a PDF of this release, click here.
Contact: John B Jennings