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House passes bills to protect elderly investors
By: Patrick Temple-West, POLITICO

Washington, Apr 30 -

The House today advanced three financial services bills designed to protect both the elderly and young adults.

— The Senior Security Act of 2019 H.R. 1876 (116) would create a task force at the SEC to place a priority on senior investors' concerns.

— H. Res. 327 (116) seeks to encourage greater public-private sector collaboration to promote financial literacy for students and young adults.

— H. Res. 328 (116) seeks to support the protection of the elderly with financial literacy.

The Securities Industry and Financial Markets Association applauded the passage of the Senior Security Act.

"Our industry is on the frontline in protecting senior investors and strongly supports any efforts that focus on the most immediate and most damaging dangers faced by senior investors," SIFMA President and CEO Ken Bentsen said. "H.R. 1876 will strengthen efforts to protect these investors from bad actors closest to them."