Rep. Cartwright Legislation to Protect Older, Low-Income Veterans From Financial Scams Passes Committee

WASHINGTON, Oct. 18 -- Rep. Matthew Cartwright, D-Pa., issued the following news release:

U.S. Representative Matt Cartwright's bipartisan legislation to protect older, low-income veterans from financial scams passed the House Committee on Veterans' Affairs. The Veterans Care Financial Protection Act (H.R. 3122) would direct the Department of Veteran Affairs (VA) to work with other federal agencies and states to develop and implement standards that protect veterans from predatory practices.

The VA offers an Aid & Attendance (A&A) benefit for veterans who qualify for a VA pension, and need financial help with in-home care or assisted living. The A&A application is free, but scam artists have targeted veterans and charged them to obtain these benefits. With this information, scammers can take ahold of the veteran's assets, and may even move them into an irrevocable trust or an annuity. This movement of assets may also disqualify the veteran from other assistance, such as Medicaid.

"Scam artists are turning the well-deserved A&A benefit into a financial nightmare for those who can least afford it," said Rep. Cartwright. "There needs to be greater safeguards for our veterans. This bipartisan, commonsense proposal will help protect veterans from financial scams. We owe this to our nation's heroes."