Political Quotes

“Madam Speaker, I yield myself such time as I may consume. Madam Speaker, I rise in support of H. Res. 328, Supporting the Protection of Elders Through Financial Literacy. This collaboration by Mr. Casten of Illinois and Mr. Rose of Tennessee is, again, an important bipartisan effort to focus on financial literacy during Financial Literacy Month as well as to call attention to the challenges that we have in making sure that our senior Americans are taken care of and their financial well-being. According to research conducted by the AARP Public Policy Institute, one in five older Americans is a victim of financial exploitation each year. These victims lose up to $3 billion annually, or more than $120,000 per victim, which is more than most Americans have in their entire retirement savings. Sadly, only 1 in 44 cases is reported. That is the challenge that we have talked about here this afternoon, that we make sure that that reporting is identified so that restitution can be made. I am proud of the work the Congress did on the Senior Safe Act, legislation that originated in the Financial Services Committee and was ultimately signed into law last year. That legislation took an important step in offering greater financial protection to seniors by encouraging financial institutions, investment advisers, and brokers to report suspected fraud or elder abuse to law enforcement--a good step. This resolution we are now discussing also complements the fine work of Mr. Gottheimer and Mr.…”