Senate Aging Committee Launches Anti-Fraud Hotline for Seniors

November 20, 2013
Reverse Mortgage Daily  
debt settlement news

The U.S. Senate Special Committee on Aging recently went live a new anti-fraud hotline that older Americans can contact if they believe they have fallen prey to a financial scam.

The toll-free number will put callers in touch with committee investigators who can hear their complaints about payday loans, identity theft, bogus sweepstakes and lottery schemes, abusive reverse mortgage deals, investment scams, Social Security and Medicare fraud, and other elder financial abuse problems.

The investigators will directly examine each complaint and, when warranted, direct consumers to the proper authorities. "If you're contacted about an offer that sounds too good to be true, then it probably is," said panel chairman Sen. Bill Nelson (D-Fla.) "This new hotline will give seniors a resource to turn to for assistance if they think they've been victimized or have questions about fraudulent activities."

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.