Thursday, 25 April 2024

Senate approves Berg senior protection bill

SACRAMENTO – The state Senate on Thursday overwhelmingly approved a bill by Patty Berg that makes it harder for unscrupulous financial advisors to win the confidence of California’s growing elderly population.


Assembly Bill 2149 would rein an increasingly popular gimmick used by sales people in which they claim to be “senior experts” offering advice, rather than sales people out to make a buck. The bill would regulate the use of “expertise” designations and require actual training of anyone who would seek to convince seniors that they have special knowledge about their needs.


The full Senate, voting during an afternoon session, approved the bill on a 26-9 vote.


“I’m very pleased,” said Berg, D-Eureka, “that so many senators share my belief that we can and should do what we can to protect older adults.”


Berg’s bill is designed to stop unscrupulous salespeople from using bogus titles to gain the confidence of older adults, who all too often lose their life’s savings to sweet-sounding pitches by so-called experts.


After Thursday’s approval, the bill needs a concurrence vote in the Assembly – where success is expected – before being sent to the governor.


Berg, who for years has been the Legislature’s key thinker on aging issues, has introduced a trio of bills this year, all designed to give seniors more information about the people they are dealing with when considering insurance or financial investments. The fleecing of older adults, known to police as elder financial abuse, is one of the fastest-growing segments of crime in the country.


The bills are sponsored by the California Alliance for Retired Americans and the Congress of California Seniors. The Gray Panthers of California and the Older Women’s League are also in support.


{mos_sb_discuss:3}

Upcoming Calendar

27Apr
04.27.2024 10:00 am - 2:00 pm
Northshore Ready Fest
27Apr
04.27.2024 10:00 am - 2:00 pm
Prescription Drug Take Back Day
27Apr
04.27.2024 7:00 pm - 9:00 pm
Inaugural Team Trivia Challenge
2May
05.02.2024 5:00 pm - 8:00 pm
Neighborfest
4May
05.04.2024 2:00 pm - 4:00 pm
Park Study Club afternoon tea
5May
05.05.2024
Cinco de Mayo
6May
05.06.2024 11:00 am - 4:00 pm
Senior Summit
12May
05.12.2024
Mother's Day
27May
05.27.2024
Memorial Day

Mini Calendar

loader

LCNews

Award winning journalism on the shores of Clear Lake. 

 

Newsletter

Enter your email here to make sure you get the daily headlines.

You'll receive one daily headline email and breaking news alerts.
No spam.