Josh Gottheimer: “Mr. Speaker, in this Congress, as in previous Congresses, I introduced the Senior Security Act to protect vulnerable…”

“Mr. Speaker, in this Congress, as in previous Congresses, I introduced the Senior Security Act to protect vulnerable seniors from fraudsters who seek to take financial advantage of them. Millions of seniors across the country, including my own mother-- blessed memory--have been the victims of financial scams, and far too many have been cheated out of their retirement savings. It is appalling. It is offensive, and it is unacceptable. Senior scams have more than doubled since 2020. These senior scams cost older Americans more than $36 billion a year, with the average victim losing $34,000 from these crimes annually, not to mention the pain you can't put a dollar amount on. What is worse is that the majority of cases of elder exploitation are not reported. We are here today to do something about it by passing my Senior Security Act to help protect American seniors from these shameless criminals. This bipartisan legislation will create a senior investor task force in the Securities and Exchange Commission that will be a cop on the beat ensuring we do everything possible to stop hucksters from scamming our seniors.”