Senate Bill Includes Measure to Combat Senior Financial Exploitation and Abuse

Senate Bill Includes Measure to Combat Senior Financial Exploitation and Abuse

Will Promote More Communications with Law Enforcement

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford after S. 2155, the Economic Growth, Regulatory Relief, & Consumer Protection Act, passed out of the Senate Committee on Banking, Housing, and Urban Affairs.  

“IRI commends Chairman Mike Crapo (R-ID) and Senators Mark Warner (D-VA), Heidi Heitkamp (D-ND), Jon Tester (D-MT) and Joe Donnelly (D-IN) for the bipartisan leadership they have displayed in bringing S. 2155 before the committee for its consideration. This bill includes the provisions of the Senior$afe Act of 2017, a bill previously introduced by Senators Collins (R-ME) and McCaskill (D-MO). By adopting this legislation, the members of the committee 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 reiterate our endorsement of this legislation and express our staunch support for expeditious enactment.” 

IRI submitted a letter of support to all members of the Senate Committee on Banking, Housing, and Urban Affairs which may be accessed here.

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Click here for a PDF of this release.
Contact: John B Jennings