Consumer Finance Protection Bureau: “The people just now reaching their sixties are part of Americas largest-ever generation of retirees. The CFPB is creating an Office of Financial Protection for Older Americans to ensure we serve this large community effectively. This Office will connect seniors with what they need to guide themselves through their financial lives. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires this Office to be active by January 21, 2012. We are building it right alongside the rest of the consumer bureau, and in the coming weeks and months youll hear more from us about financial issues for seniors. Here are some places you can go now for senior financial protection information:
- The Administration on Aging has Elder Rights Protection resources to make sure seniors can guard their rights.
- The Securities and Exchange Commission offers some tip sheets and resources.
- The FTC offers information on avoiding scams and fraudulent business practices, which advertise in ways that make them look like legitimate opportunities.