Congressman Higgins introduces bills to protect America’s elders from financial exploitation

Congressman Clay Higgins (R-LA) introduced two bills to protect senior citizens from financial harm: H.R. 10242, the Janie Wynn Protecting Elders From Financial Exploitation Act, and H.R. 10243, the Protecting Elders From Government Error Act.

The Janie Wynn Protecting Elders From Financial Exploitation Act directs the Bureau of Consumer Financial Protection to issue a rule within 180 days requiring fraud alerts on pre-approved credit cards issued to seniors, sent both to the cardholder and to a trusted contact of their choosing.

It also requires banks and credit unions to train fraud detection employees to recognize account activity associated with elder exploitation and to notify the accountholder within 24 hours. Read the text here.

The Protecting Elders From Government Error Act bars the Social Security Administration from clawing back old-age benefit overpayments that the agency itself caused and failed to catch within six months, and caps monthly withholding at 5 % where recovery is still permitted. The protections do not extend to beneficiaries who have committed fraud. 

“Every American elder should feel secure in their own home and also in the financial realm. These bills are designed to protect our elders from predatory creditors, social security errors, and government bureaucracy,” said Congressman Clay Higgins. 

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Congressman Higgins introduces bills to protect America’s elders from financial exploitation