FSI Supports Empowering States to Protect Seniors Against Bad Actors Act
Today, Representatives Josh Gottheimer (D-NJ-05) and Zach Nunn (R-IA-03) and Senator Chris Van Hollen (D-MD) introduced the bipartisan, bicameral Empowering States to Protect Seniors Against Bad Actors Act. The Financial Services Institute (FSI) provided its support for the important legislation.
“With the increase in new technologies, including AI, financial fraudsters are growing more sophisticated in their schemes to defraud seniors. Financial advisors and financial services firms are often the first to notice the signs of possible financial abuse and are best positioned to report it,” said FSI President & CEO Dale Brown. “The Empowering States to Protect Seniors from Bad Actors Act would provide the needed resources and connect the states, the SEC and financial advisors to combat financial exploitation of senior citizens.”
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