Saturday, September 19, 2009

Senior Investment Protection Enchancement Act

Senior citizens are being scammed, according to Sen. Kirsten Gillibrand, D-N.Y., who announced a plan Tuesday to protect against financial abuses.

"Research shows that our seniors face serious risks from fraudulent salesmen,'' Gillibrand said during a conference call with reporters from throughout the state. "Seniors account for more than half of all investor complaints being investigated by securities regulators.

"So to protect these seniors from fraud," Gillibrand continued, "I've introduced the Senior Investment Protection Enhancement Act - legislation that would target those who commit securities violations against seniors."

Full Article and Source:
Gillibrand Introduces Act to Protect Area Seniors


Anonymous said...

Sounds good!

Anonymous said...

Guardianship can also be a scam, Kirsten Gillibrand.

And it can also affect you, when you become old.

StandUp said...

Seniors need as much protection as possible. I am pleased to see this and hope it's just the beginning.

Anonymous said...

Good news in the right direction.

Anonymous said...

Good idea. Anything to discourage the predators.