Senior Financial Empowerment Act of 2021

Senate Bill 2116 - Senior Financial Empowerment Act of 2021: Overview, Status, and Impact

Hozzl · 2022-12-31T05:27:02Z

Explore the details of Senate Bill 2116 Senior Financial Empowerment Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/31/2022, 5:27 AM

Congressional Summary of S 2116

Senior Financial Empowerment Act of 2021

This bill requires the Federal Trade Commission (FTC) to disseminate to senior citizens and their families and caregivers information regarding mail, telemarketing, and internet fraud that targets senior citizens. This includes information about safe and smart financial practices, instructions for referring a fraud complaint to law enforcement, and a toll-free telephone number that connects to a live individual who answers calls from seniors seeking advice about scams or how to report instances of fraud.

Further, the Department of Justice may award grants for the prevention of senior citizen fraud to state attorneys general, state or local law enforcement, senior centers, or nonprofit organizations that provide assistance to seniors.

The FTC must provide education regarding legal obligations and industry best practices with respect to addressing financial exploitation and neglect of seniors to specified financial entities and to employees of financial institutions who may be able to identify elder financial abuse.

The National Institutes of Health must research the increased vulnerability of seniors to scams and fraud due to age-related health and neurological conditions.

The bill expresses the sense of Congress that a week in March of each year should be designated as National Senior Fraud Awareness Week.

Read the Full Bill

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Current Status of Bill S 2116

Bill S 2116 is currently in the status of Bill Introduced since June 17, 2021. Bill S 2116 was introduced during Congress 117 and was introduced to the Senate on June 17, 2021. Bill S 2116's most recent activity was Read twice and referred to the Committee on Commerce, Science, and Transportation. as of June 17, 2021

Bipartisan Support of Bill S 2116

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2116

Primary Policy Focus

Commerce

Potential Impact Areas

- Aging

- Commemorative events and holidays

- Consumer affairs

- Crime prevention

- Criminal investigation, prosecution, interrogation

- Financial literacy

- Fraud offenses and financial crimes

- Government information and archives

- Internet, web applications, social media

- Law enforcement administration and funding

- Marketing and advertising

- Medical research

- Neurological disorders

- Social work, volunteer service, charitable organizations

- Telephone and wireless communication

Alternate Title(s) of Bill S 2116

A bill to prevent mail, telemarketing, and internet fraud targeting seniors in the United States, to promote efforts to increase public awareness of the enormous impact that mail, telemarketing, and internet fraud have on seniors, to educate the public, seniors, their families, and their caregivers about how to identify and combat fraudulent activity, and for other purposes.

Senior Financial Empowerment Act of 2021