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house Bill H.R. 1876

Should an SEC Task Force Study Financial Crimes Against Seniors?

Argument in favor

Financial crimes against senior citizens are on the rise. A better understanding of how these crimes are committed will help the government and financial institutions better protect vulnerable seniors from those looking to defraud or otherwise exploit them.

Dean's Opinion
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04/28/2019
and the consumer financial protection bureau should be revived rather than demolished
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Thelma's Opinion
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04/30/2019
Senior citizens tend to be less cyber-savvy and are often the targets of crime. They are especially vulnerable because they can have lots of money saved for retirement. They must be protected.
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Michael.J.L's Opinion
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04/30/2019
This is something that must be handled at the Federal level. State law enforcement has limited authority and Local government has none since SEC falls under Federal jurisdiction, and only the Federal Courts have the power to enforce and punish.
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Argument opposed

Financial institutions, not the federal government, are best positioned to understand and combat financial crimes against seniors. It’s a waste of the government’s money to study this issue at the SEC when financial institutions are best able to investigate and prevent these crimes.

Donna 's Opinion
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04/30/2019
No, time is UP . NO MORE funding for STUDIES. Compiled data is already available ( AARP). LEGISLATE protections and consequences!
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NJ525's Opinion
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04/30/2019
As much as I care about fraud done against the seniors, this is the sole task of our state officials and not the Federal bureaucracy.
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Dennis's Opinion
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05/01/2019
Stop the overreach and let the states and financial institutions handle it.
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    and the consumer financial protection bureau should be revived rather than demolished
    Like (57)
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    No, time is UP . NO MORE funding for STUDIES. Compiled data is already available ( AARP). LEGISLATE protections and consequences!
    Like (30)
    Follow
    Share
    Senior citizens tend to be less cyber-savvy and are often the targets of crime. They are especially vulnerable because they can have lots of money saved for retirement. They must be protected.
    Like (32)
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    Share
    This is something that must be handled at the Federal level. State law enforcement has limited authority and Local government has none since SEC falls under Federal jurisdiction, and only the Federal Courts have the power to enforce and punish.
    Like (23)
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    I support the bipartisan Senior Security Act so long as it’s cost remain negligible over the 5 year period specified in this bill. My only concern is that it is a 5 year study. Seems to me that 2-3 years would be adequate to do this job. Additionally, I would like the Consumer Protect Bureau restored and given far more authority than previously.
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    Absolutely. My bet is that you will find that the majority of perpetrators are Conservatives and registered Republicans. Conservatives possess no empathy or human traits, so they can consciously and subconsciously harm others with no guilt.
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    I don’t trust this WH administration. If the SEC can do this sort of study honestly without influence from corrupt criminal trump regime- then it should be done.
    Like (14)
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    As much as I care about fraud done against the seniors, this is the sole task of our state officials and not the Federal bureaucracy.
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    Senior citizens are a significant target for financial scammers since they may not be as tech-savvy or alert enough to spot things that are questionable. Unfortunately, we have scum of the Earth out there that think it’s okay to try to steal money from the elderly that they’ve worked their entire lives for. We need to do a much better job at protecting our seniors from these scammers.
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    Absolutely. Seniors need to be taken care of.
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    Senior citizens may be vulnerable targets but they still vote! How about fixing the robo sales calls?! Many seniors don’t hear very well any longer. That makes it easy for fake callers to manipulate them.
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    Our seniors are the largest age group in our nation.Not only do we have a moral obligation but we also have an economic one.
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    I am a conservative financially and I can't stand when greedy financial advisors go after anyone that is in retirement or is close to retirement. Many of these so-called 'advisors' are just in it for themselves, and not to help out their clients, and the more aggressive they are, the more you should run the other way, I recommend to anyone who sees that they are paying exorbitant fees and/or getting lower than average returns to seek out investment firms who clearly states how much investment fees you pay because there are so many people getting taken out there. I'm normally not a 'Big Government' fan but in this regard, having a government agency as a watchdog couldn't hurt. However, the investor also needs to watch out for themselves. There are good places to put your money in relatively safely. Study the basics of investing first, then find the help you need. This is good advice for someone of any age.
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    Yes, and while you are at it...fund the SEC properly and give it some real teeth!
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    Since I am a senior citizen, I will obviously support actions to protect me and my fellows from fraud, overcharging and financial abuse toward people like me. I would appreciate your legislative support to protect us.
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    It's time for all types of financial crimes be prosecuted as aggressively as possible. The failure to arrest, try & convict those necessary for past financial crimes has given bankers & loan firms effective immunity. That is NOT ACCEPTABLE. That is AIDING & ABETTING CRIME by the DOJ.
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    They should do more than just study, they should prevent it from happening.
    Like (6)
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    This bill is absolutely necessary for seniors are not taken, stolen from.
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    I'm a senior, and I am constantly bombarded by people looking to get money from me. They are now using phone numbers that belong to people without those people knowing of it, as well as disconnected numbers. They use phone numbers that begin the same as your phone number. Also look out for the survey with a prize. You complete the survey and you get a prize. The information you give while completing the survey is given to marketing companies all over the U.S., and then you start getting phone calls, messages, emails from these companies. They don't give up easily either. You say NO on 5 different occasions, and they'll still call again in 2 weeks. They think seniors are an easy mark, and if you're not always completely aware, they could get you. We need some agency to go after these people that take advantage of seniors.
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    There is no way private concerns like financial institutions can monitor and prevent the kinds of crimes typically committed against seniors. A bank etc can help if someone is raiding an account, but when the threats are from telephone and/or computer sources, only the federal government can investigate and help prevent. A bank can't send a thief to jail, the gov't can.
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