The House of Representatives passed the CUNA-backed Senior$afe Act of 2016 (H.R. 4538) late Tuesday night by voice vote. The bill was introduced by Reps. Kyrsten Sinema (D-Ariz.) and Bruce Poliquin (R-Maine), and would protect good-faith reporters of suspected elder financial abuse.
CUNA sent a letter this week urging all House members to vote for the bill. Specifically, it would provide legal immunity for financial services employees who disclosed concerns about elder financial abuse.
“This bill will help local bank and credit union tellers, and retirement advisors to stop these crimes before they happen by reporting this crookery to the proper authorities,” Poliquin said.
CUNA also supports the Senate version of the bill, which was introduced last year by Sen. Susan Collins (R-Maine).
The Maine Credit Union League and Maine credit unions worked with Poliquin and Collins several times to discuss elder financial abuse and ways to combat it.