U.S. Sen. Jerry Moran (R-KS) on June 11 applauded action a day earlier by the U.S. Senate to unanimously approve his bipartisan bill to prevent scammers from taking advantage of America’s senior citizens.
“I appreciate the Senate passing this legislation and urge the House of Representatives to bring this important legislation to the floor for a vote,” Sen. Moran said.
The Senate on June 10 passed the Stop Seniors Scams Act, S. 149, introduced in January 2019 by Sen. Moran and U.S. Sen. Bob Casey (D-PA) to establish the federal Senior Scams Prevention Advisory Council, which would be tasked with developing educational materials for retailers, financial institutions and wire transfer companies to train employees on how to spot and stop financial scams at the point of sale.
“Our nation’s seniors are among the most vulnerable consumers in this digital age, and scammers frequently target seniors to steal their money, identity and dignity,” said Sen. Moran. “This legislation would bring industry and government leaders together to make certain we are doing all we can to protect seniors.”
The advisory council would be composed of members or designees from the offices of the Federal Trade Commission (FTC); the U.S. Secretary of the Treasury; the U.S. Attorney General; the U.S. Bureau of Consumer Financial Protection; not more than two representatives from each of the following sectors, including trade associations, to be selected by the FTC chairman: retail, gift card, telecommunications, wire-transfer services, senior peer advocates, consumer advocacy organization, financial services, and prepaid cards; a member of the Board of Governors of the Federal Reserve System; a prudential regulator; the director of the Financial Crimes Enforcement Network; and any other federal, state, or local agency, industry representative, consumer advocate, or entity, as determined by the FTC chairman, according to the bill’s text.
Companion legislation, the same-named H.R. 2610, which was introduced in May 2019 by U.S. Reps. Tim Walberg (R-MI) and Lisa Blunt Rochester (D-DE), remains under consideration in the U.S. House Energy and Commerce Subcommittee on Consumer Protection and Commerce.