As you age, do you feel progressively more vulnerable regarding your potential for being ripped off in a consumer-related scam? That would be only natural, given the sheer proliferation of fraudulent schemes in recent years and the very evident efforts of bad-faith actors in targeting seniors as victims.
Alternatively, do you find yourself worrying about your parents or other older relatives and friends? They might already have come to you expressing concerns or posing questions regarding third-party contacts addressing things like alleged once-in-a-lifetime purchase opportunities, sweepstakes/vacation offers, incredible sounding investment schemes, lending vehicles with exceptionally low interest rates, and so forth.
Consumer fraud efforts aimed specifically at seniors pose a material threat to a huge American demographic.
A pair of U.S. senators has addressed that concern by introducing a bill with the stated focus of increasing scam-related protections for older people across the country.
The bipartisan Seniors Fraud Prevention Act, put forward for consideration by Sens. Amy Klobuchar (D-MN) and Susan Collins (R-ME) earlier this month, addresses consumer fraud across a broad spectrum, and would require enhanced fraud monitoring and a beefed-up system for making, tracking and more quickly acting upon complaints.
Says Klobuchar: "Too often seniors can have their entire life savings snatched up in scams specifically designed to target their assets."
Experienced consumer protection attorneys who routinely advocate diligently on behalf of individuals and families who have been ripped off by companies and industries acting in bad faith certainly support any state or federal legislation that is backed by real enforcement teeth.
The bill has been introduced in two previous Congresses. Klobuchar and Collins hope it has sufficient support this time to ultimately be enacted as new federal law.