House Bill Would Strengthen States’ Ability to Combat Financial Exploitation of Seniors
Washington, D.C. – In the Dodd-Frank Act, Congress sought to empower states to do more to combat senior exploitation by establishing a grant program in Consumer Financial Protection Bureau (CFPB) to support state efforts. Unfortunately, questions about the funding mechanism have prevented the grant program from being implemented. This bill would eliminate that funding ambiguity. Because senior exploitation is an urgent, nationwide problem, CFA strongly supports its passage.
