Political Quotes

“I rise today to speak in support of the Senior$afe Act, which I am pleased is included in the Economic Growth, Regulatory Relief, and Consumer Protection Act. My good friend Senator Claire McCaskill and I have been working on Senior$afe for several years now. This bill originated with testimony offered by Maine Securities Administrator Judith Shaw in a hearing before the Senate Aging Committee in 2015. I am the chairman of that committee, and Senator McCaskill was the ranking member at that time. We introduced the bill that year, and reintroduced it in January of 2017. Today, the bill is cosponsored by almost a third of this body, balanced nearly evenly on both sides of the aisle. I am disappointed to learn that my colleague Senator Warren has filed an amendment that would seriously undermine the Senior$afe Act by restricting its provisions just to liability that may arise under the Gramm-Leach-Bliley Act. If this amendment were to pass, financial service providers that report suspected frauds against seniors could still face liability under other laws or causes of action, which would discourage providers from making these critical reports. I understand that the proponent of this amendment contends that Senior$afe could somehow shield a financial service provider from its own fraud. That is simply not correct.…”