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."
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Gillibrand Introduces Act to Protect Area Seniors