Bill Protects Seniors Against Fraud; Increases Transparency of International Insurance Capital Standards Process
Financial services regulatory reform legislation passed by the House today and earlier by the
Senior Safe Act
The Senior Safe Act encourages financial services firms to provide appropriate training to front-line employees and producers, while granting immunity to those that report suspected abuse of seniors to regulators and law enforcement authorities.
"The Senior Safe Act will help protect America's seniors from financial exploitation. It is extremely beneficial public policy because it helps protect seniors," said ACLI President & CEO
"By encouraging the reporting of suspected fraud, The Senior Safe Act improves the ability of companies to work with regulators to protect seniors from losing their retirement savings," said
International Insurance Capital Standards Accountability Act
The International Insurance Capital Standards Accountability Act of 2017 would establish new transparency and reporting requirements for the
"It would increase transparency and accountability to the international insurance capital standards process," said
"We believe this bill would ensure that the
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