Ann Wagner’s Bipartisan Fraud Prevention Legislation Overwhelmingly Passes House

Washington, D.C. - Congresswoman Ann Wagner (R-MO), released the following statement after her Financial Exploitation Prevention Act passed the U.S. House:

"Far too often, senior citizens here in Missouri and all across the nation are directly targeted for financial fraud. The consequences of this crime extend to millions of Americans, with one out of every five senior investors falling victim to financial fraud and exploitation. This problem is only getting worse, so I got to work with my colleagues on both sides of the aisle to craft simple protections for seniors who need it most.

"My bill gives financial institutions critical tools to step in when they suspect a vulnerable adult is being exploited and gives law enforcement time to act before someone's hard-earned retirement is permanently stolen by fraudsters. Many seniors and vulnerable adults need that extra layer of defense from fraud that has become tragically common in today's world, and my Financial Exploitation Prevention Act is a commonsense step to protecting parents, grandparents, and families in communities around our country."