US Lawmakers Pass Bill To Combat Elder Financial Abuse

Bishoff Financial Group Leadership Lobbies for Law

     Washington, D.C. – The US House of Representatives passed a bipartisan bill to make it easier for advisors to report elder financial abuse. 

     The Senior Safe Act protects financial advisors from being charged with violating privacy laws for reporting the financial abuse of elders to federal or state regulators. BFG co-owners President & CEO Wm Eric Bishoff CFP® and Chief Financial Officer Heather Bishoff met with Ohio US lawmakers, to include Reps Joyce Beatty, Steve Stivers, and Pat Tiberi to encourage them to pass the legislation.

     Team Bishoff traveled to Washington DC with the Financial Services Institute to lobby for the bill.

     "Spending time with lawmakers on both sides of the aisle, helping them to understand the elder abuse we've seen on the front lines and then seeing the legislation pass out of committee the same day was a fulfilling experience on behalf of the clients we serve," said Heather Bishoff.

     According to the National Adult Protective Services Association, one in 20 seniors report financial abuse. This does not account for cases when the abuse is not reported.