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This resolution would express the House’s support for efforts to protect elderly Americans from financial crimes via the promotion of financial literacy specifically for older people.

Under this resolution, the House would:

Support Financial Literacy Month’s goals of raising public awareness about 1) the importance of personal financial education in the U.S. and 2) the serious consequences that may result from a lack of personal finance understanding;
Acknowledge that raising awareness of threats to personal finance, especially for vulnerable, targeted populations like older adults and their relatives and caregivers, is only one part of financial literacy;
Express understanding of the fact that combating elder financial literacy requires encouraging continued education and collaboration between law enforcement, financial institutions, regulatory agencies, and private sector organizations to detect, prevent, report, and investigate financial crimes against seniors;
Support FinCEN and its partners’ work to educate the stakeholders that serve and protect the U.S.’ elder community;
Urge continued public-private partnership and appropriate information-sharing to prevent, detect, report, and investigate elder financial exploitation; and
Urge action to assist with remediation and reporting, as well as prevention and detection, to have the best possible data, feedback, and incident response.

As a simple resolution, this legislation is non-binding and wouldn’t advance beyond the House if passed.

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Should the House Express Support for Financial Literacy Education for Senior Citizens?