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Legislative News and Views - Rep. Paul Rosenthal (DFL)

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Rep. Rosenthal renews efforts to fight financial fraud and exploitation against seniors

Tuesday, February 14, 2017

SAINT PAUL, MN—Today, State Rep. Paul Rosenthal (DFL-Edina) presented a bipartisan bill to the House Commerce and Regulatory Reform Committee that would implement a statewide education and outreach program to protect vulnerable adults, seniors and caregivers from financial exploitation.

Cases of financial fraud and exploitation against senior citizens are on the rise nationwide. According to the Investor Protection Trust, one out of every five persons over the age of 65 has been victimized by a financial swindle.  The Minnesota Department of Commerce cites similar senior outreach programs to address these threats in Illinois, Missouri, New Mexico, Oklahoma and Montana.

In Minnesota, several cases of fraud have emerged; last September, the Star Tribune reported on an 88- year old Robbinsdale man with Alzheimer’s disease who was swindled out of more than $200,000.

“It is sickening to know our elderly loved ones are falling prey to scammers and con artists” Rep. Rosenthal remarked.  “This type of fraud destroys decades of financial security our seniors have worked so hard to achieve. By taking proactive measures with the outreach program included in my bill, we are arming Minnesotans with tools to combat and prevent fraud and permanent financial hardship.”

The outreach program in HF 879 would require a one-time $500,000 appropriation, but Rep. Rosenthal sees potential to make the program and appropriation ongoing.  The statewide education and outreach program would include public service announcements via television, print and other media, and training and outreach to senior living facilities.

HF 879 advanced to the Job Growth and Energy Affordability Policy and Finance Committee.

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