Senior citizens are getting ripped off more than ever these days, according to an investigation started by federal regulators. Nearly $2.9 billion was lost by adults over 60 years old due to financial exploitation in 2010. The Consumer Financial Protection Bureau announced the investigation in order to help prevent future abuse. “The silent crime of financially exploiting the elderly is widespread, and it is devastating. It is critical for us to act,” said the director of the agency. “The generation that rebuilt and sustained this nation out of a devastating Depression, the dark hours of World War II and the anxious fears of the Cold War deserve our care now.” Regulations such as tougher oversight, and prosecuting those who abuse the elderly are necessary in order to decrease scams. The agency is asking for public comments in order to help combat financial abuse of the elderly, according to news reports.
As a personal injury attorney, my thoughts are with those involved in this recall. I hope that nobody is adversely affected due to elder abuse. If you or someone dear to you believe you were affected by a scam, you may want to discuss your claim with an attorney who can fully evaluate your claim and help answer any questions you may have. They can guide you through the steps associated with your claim and take any necessary efforts in order to get you the best results possible.Tweet