Deutch, Buchanan, Welch Reintroduce Bill to Protect Seniors from Scams
Today, Congressman Ted Deutch (D-FL) joined with Congressman Vern Buchanan (R-FL) and Congressman Peter Welch (D-VT) to reintroduce the Seniors Fraud Prevention Act. Senators Amy Klobuchar (D-MN) and Susan Collins (R-ME) introduced the Senate companion (S. 512).
Seniors are at particular risk of scams. Cleverly disguised fraud schemes pop up regularly that are specifically designed to confuse seniors and steal their money. In many cases, seniors have watched their entire life savings disappear in scams that target their assets. This bipartisan legislation would help protect seniors and their families by creating an office within the Federal Trade Commission charged with tracking fraud schemes targeting seniors and distributing the information to the public.
"Scams set up specifically to go after American seniors and their hard-earned money are particularly despicable," said Congressman Deutch. "For the millions of American seniors, many of whom live on fixed incomes, they should not have to worry about losing everything in their bank accounts because of extremely deceptive scams. They should be able to depend on their government and law enforcement to protect their financial security from fraud and scams."
"I’m pleased to be working with Congressmen Deutch and Welch on this important bipartisan measure to protect America’s seniors from fraud," Congressman Buchanan said. "We must do everything we can to safeguard the savings and dignity of Americans as they enter their golden years against those who try to target them."
“Every day, in Vermont and across this country, vulnerable seniors are being ripped off by scam artists,” Congressman Welch said. “It’s not uncommon for their victims to lose their life’s savings. Our bill would give the FTC the resources it needs to alert seniors of fraudulent schemes and help stop these criminals in their tracks.”