DearColleague.us

Letter

Sending Office: Honorable Theodore E. Deutch
Sent By:
Joshua.Lipman@mail.house.gov

        Request for Cosponsor(s)

Co-sponsors:  Rep. Buchanan, Rep. Welch, Rep. Axne,
Rep. Bacon
, Rep. Castor,

Rep. Correa, Rep. Fitzpatrick, Rep. Grijalva, Rep. Jackson Lee, Rep. Malinowski

 

Dear Colleague,

 

Fraud schemes are costing seniors at least $36.5 billion per year.  However, the emotional loss is likely much higher.  One in twenty seniors in the U.S. is a target of fraud schemes.  Yet, the National Adult Protective Services Association
has found that only 1 in 44 seniors actually report that they are victims of a fraud scheme.     

 

Fraud schemes targeting seniors include fraudulent investment plans, fraudulent prizes and sweepstakes, internet fraud, charity scams, predatory home lenders, telemarketing and mail fraud, accessing assets through undue influence, using fraudulent legal
documents, Ponzi schemes, and other fraudulent acts.  A new fraud scheme designed to target seniors appears almost daily.  In many cases, seniors have watched their entire life savings disappear in scams that are specifically designed to target their assets. 

 

We therefore have introduced a bipartisan bill – H.R. 2301, the Seniors Fraud Prevention Act
– that will provide much needed protection to seniors from fraud schemes through consumer education and by establishing an effective complaint system that ensures complaints of fraud are immediately forwarded to the appropriate law enforcement agencies. 
The Federal Trade Commission (FTC) is responsible for consumer protection by providing updated information to consumers on scams and also ensuring that complaints from consumers involved in scams are forwarded to the appropriate law enforcement services. 
This bill would require the FTC to coordinate with other agencies to monitor the market for fraud schemes targeting seniors.  Moreover, the bill would require the FTC to distribute information materials to seniors, their families, and their caregivers that
explains the process for contacting law enforcement authorities in the event that a senior is targeted in a fraud scheme.            

 

The Seniors Fraud Prevention Act does not allocate any funding to the FTC to carry out the provisions of the bill.  Under the bill, the FTC would be required to implement the provisions of the legislation using the funding they
are appropriated.  

 

H.R. 2301, the Seniors Fraud Prevention Act, will provide essential information on fraud schemes to seniors and implement an effective complaint system should seniors become victims of a fraud scheme.  We hope you will become a cosponsor.  If you
would like additional information, please contact Joshua Lipman with Congressman Ted Deutch (FL-22) at
Joshua.lipman@mail.house.gov or x68590.

 

Sincerely,

 

 

Theodore E. Deutch                                                    Vern Buchanan

Member of Congress                                                  Member of Congress

 

 

 

Peter Welch

Member of Congress

 

 

 

 

 

 

Related Legislative Issues

Selected legislative information: Consumer Affairs, Family Issues, Finance

Related Bill Information

Bill Type: H.R.
Bill Type: 2301
Special Note:

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