U.S. Congress - H.R.370 Preventing Affinity Scams for Seniors Act of 2011
H.R.370 - Preventing Affinity Scams for Seniors Act of 2011
To require financial institutions to offer services to protect seniors from affinity scams, to report suspected affinity scams, and for other purposes. view all titles (3)
All Bill Titles
- Short: Preventing Affinity Scams for Seniors Act of 2011 as introduced.
- Short: PASS Act of 2011 as introduced.
- Official: To require financial institutions to offer services to protect seniors from affinity scams, to report suspected affinity scams, and for other purposes. as introduced.
This Bill currently has no wiki content. If you would like to create a wiki entry for this bill, please Login, and then select the wiki tab to create it.
Bill's Views
- Today: 1
- Past Seven Days: 16
- All-Time: 1,223
|
|
|
|
|
|
|
|
Official Summary
1/20/2011--Introduced.Preventing Affinity Scams for Seniors Act of 2011 or PASS Act of 2011 - Defines "affinity scam" as a transaction in which a person trusted by a senior, such as a caregiver, relative, guardian, "new friend," or service provider, claims to share simiOfficial Summary
1/20/2011--Introduced.Preventing Affinity Scams for Seniors Act of 2011 or PASS Act of 2011 - Defines "affinity scam" as a transaction in which a person trusted by a senior, such as a caregiver, relative, guardian, "new friend," or service provider, claims to share similar interests or values and establishes a relationship with the senior, then uses the relationship to defraud the senior. Requires each financial institution to:(1) educate its staff about affinity scams and how to identify transactions that may be part of an affinity scam,
(2) train staff members on educating seniors about affinity scams,
(3) provide senior depositors with educational materials on how to identify affinity scams, and
(4) offer seniors a "senior protection (checking) account." Directs the Bureau of Consumer Financial Protection (CFPB) to:
(1) issue implementing regulations, and
(2) audit financial institutions periodically to ensure compliance with them. Sets forth senior protection account requirements, including protective measures to block and investigate transactions suspected of being an affinity scam. Instructs the Secretary of the Treasury to establish an income tax deduction of .77% of the average of the amount of deposits held by a financial institution in senior protection accounts.Subjects a noncompliant financial institution to a civil liability with respect to a senior who has sustained actual damage as a result of the institution's failure to comply with this Act. Directs the Secretary to require each financial institution, and each of its directors, officers, employees, or agents, to report any suspicious transaction relevant to a possible affinity scam.
...Read the Rest
Recent News Coverage
Hmmmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article: Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
Recent Blog Coverage
View All (188)
|
View Top Rated
Joseph Ludwig Ziarnik: Preventing Affinity Scams for Seniors
Bill Number HR 370 IH Sponsor Representative Joe Baca (D-CA) I'm writing to Mr. Baca.... Posted by Tami Goldmann at 4:21 PM · Email ThisBlogThis!Share to TwitterShare to Facebook. Labels: banks, credit unions, Financial ...
Joseph Ludwig Ziarnik: Preventing Affinity Scams for Seniors
Bill Number HR 370 IH Sponsor Representative Joe Baca (D-CA) I'm writing to Mr. Baca.... Posted by Tami Goldmann at 4:21 PM · Email ThisBlogThis!Share to TwitterShare to Facebook. Labels: banks, credit unions, Financial ...
Joseph Ludwig Ziarnik: Preventing Affinity Scams for Seniors
Bill Number HR 370 IH Sponsor Representative Joe Baca (D-CA) I'm writing to Mr. Baca.... Posted by Tami Goldmann at 4:21 PM · Email ThisBlogThis!Share to TwitterShare to Facebook. Labels: banks, credit unions, Financial ...
Vote on This Bill
-
Share This Bill
More Share via Email
