Tag Archives for Senator Kristen Gillibrand

Senate Aging Panel Highlights the Importance of Financial Literacy

Published in RINewsToday on May 18, 2026

Chairman Rick Scott (R-FL) and Ranking Member Kirsten Gillibrand (D-NY) of the U.S. Senate Special Committee on Aging held a hearing last month called “Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence.” The hearing, held during National Financial Literacy Month, focused on the need for financial education and income security for older Americans.

The April 15 hearing lasted just over an hour and focused on improving financial and retirement security for older Americans. During his opening remarks, Sen. Scott announced the release of a bipartisan 2026 Financial Literacy Booklet to help older Americans spot and avoid scams.

At SH-216, the Senate Aging Committee confirmed its continued work to protect older adults from financial exploitation and built on earlier efforts, such as the 2025 Fraud Report.

New Resource for a Secure Retirement

The new 39-page bipartisan booklet, Guarding Your Nest Egg: A Financial Resource for Older Adults, helps older Americans manage their finances, protect themselves from fraud and scams, and plan for a secure retirement.

As Sen. Scott noted: “For so many Americans, especially our seniors, it’s hard to find the information,” Sen. Scott said in his opening statement. “And when you do find it, it’s often incredibly complicated. As a country, we have done a poor job of ensuring people know their options and what route will work best for their needs.”

Sen. Scott says financial literacy is one of the most powerful and most underused tools to protect older Americans. “When they understand how their benefits work, they make better decisions,” he says.

“When they know how to read a financial statement and recognize bad actors, they’re harder to deceive. When they understand the difference between a legitimate investment and a pitch that’s too good to be true, they protect themselves. And when they know where to turn for trusted help, they realize they are not navigating this alone,” said the Florida Senator.

Finally, Sen. Scott added, “The best part is that this doesn’t require a new government program or more federal bureaucracy.” He stressed that the solution is not more federal spending, but “clear information, trusted messengers, and a commitment to getting that information into people’s hands.”

The Senate Aging Committee’s new booklet helps readers make smart retirement and financial decisions. It covers an array of topics, including Social Security, Medicare, housing, charitable giving, disaster preparedness, and even planning for unexpected events. Throughout its pages, practical advice is given to help older adults protect their savings and avoid fraud and scams.

Sen. Gillibrand, in her opening remarks, noted that over 11,000 Americans turn 65 every day. Longer lifespans mean more years in retirement, so careful retirement planning is needed, she says, stressing that aging populations put pressure on budgets and healthcare programs at all levels.

The New York Senator mentioned a recent statement by President Donald J. Trump, who suggested that Medicare and Medicaid should be managed by states rather than the federal government. She countered that comment, noting that since Medicare and Medicaid were enacted in 1965, older Americans have come to rely on these federal programs and expect them to be in place when needed.

Sen. Gillibrand pointed out that the Centers for Disease Control and Prevention data show about 44% of adults over 65 have a disability. Many people don’t see themselves in these statistics, and some find it difficult to plan to take care of a child or adult with special needs. Even when people set financial goals and save, unexpected events can still occur, she says.

Expert Witnesses disclose Insights on Financial Literacy

The Senate Aging Panel brought four expert witnesses from the Financial Industry Regulatory Authority (FINRA), the American Bankers Association Foundation, AARP, and the financial planning community to testify at the hearing. These witnesses stressed the value of financial literacy and highlighted the growing complexity of fraud schemes. They also called for a coordinated approach that leverages education, training, partnerships, and legislation to protect older Americans’ finances.

“For older Americans, financial literacy is not a luxury; it is key for building wealth, protecting savings and preserving autonomy,” says Christine Kieffer, Interim President of the FINRA Investor Education Foundation. Kieffer explained that financial literacy helps manage financial difficulties, but it is not enough to prevent scams. It should be combined with awareness of scams, an understanding of persuasion tactics, and a coordinated approach to ensure real protection.

Sam Kunjukunju, Vice President of Consumer Education at the American Bankers Association Foundation, suggested banks protect and educate older consumers, train bankers, work with law enforcement and adult protective services, and use technology. He also called for a nationwide education campaign and federal laws allowing banks to delay suspicious transactions.

From large banks to small community banks, these financial institutions offer fraud prevention workshops, online banking training, and financial wellness seminars, and coordinate outreach efforts with community organizations, says Kunjukunju, citing several examples.

Carly Roszkowski, AARP’s Vice President of Financial Resilience Programming, shared that 64% of adults worry about having enough money to retire, and nearly one in five non-retirees have no retirement savings. She discussed the real financial challenges older adults face.

AARP provides practical, easy-to-use digital tools (calculators, guides, and other resources) that enable older adults to make informed decisions about their financial future, thereby strengthening their long-term retirement security, says Roszkowski.

“The retirement system now shifts risk to the individuals, but education and support never caught up,” said Roszkowski in her testimony, explaining that the U.S. retirement system now places primary responsibility on individuals to manage savings, investing, and turning those savings into lifelong income.

“Financial literacy works – but only when it’s practical, sustained, timely, and paired with decision support,” adds Roszkowski.

Furthermore, Roszkowski argued that since individuals now bear more risk, financial literacy should be taught throughout one’s life. This approach should cover complex decisions that must be made in later years, as well as fraud risks, drawing on trusted, accessible sources.

In his testimony, Scott Kahan, a certified financial planner, also shared his experience navigating Medicare at age 65, even after 40 years in finance, to illustrate how complex it can be.

“Many people don’t use a financial planner for retirement planning. They might think they don’t have enough money or believe free help online is enough,” says Kahan, warning that this belief is often wrong and misleading.

Getting help from skilled, ethical financial planners like CFPs is essential and should not be considered a luxury, Kahan states, describing this assistance as a lifeline for managing financial complexity and avoiding fraud.

At this hearing, the expert witnesses said that today’s scams are sophisticated schemes that use Artificial Intelligence, voice cloning, and psychological manipulation. They also pointed out how hard it is to make wise choices about when to take Social Security, enroll in Medicare, and manage savings, especially when information is complex, hidden, and difficult to find on government websites, or even biased.

The witnesses also called on banks, government, regulators, nonprofits, and law enforcement to work together to help older Americans make better financial decisions and avoid scams. They often said that information and warnings should come from trusted sources such as family, bankers, financial planners, or groups like AARP.

 A Final Note…

Hopefully, the testimony at the Senate Aging Committee hearing will push Congress to move quickly to establish a “uniform national framework” that eliminates inconsistencies among state laws and better protects older Americans from today’s increasingly sophisticated fraud and scams. Possible steps include a federal “safe harbor” law allowing banks to delay disbursements or temporarily hold transactions when fraud is suspected, the creation of new task forces focused on combating elder fraud, and increased funding for national financial literacy campaigns.

The witnesses’ testimony about scams and complex systems may prompt federal agencies, such as the Securities and Exchange Commission, the Social Security Administration, and the Centers for Medicare & Medicaid Services, to make their communications and processes easier for older adults to access.

To watch the April 15 Senate Aging Committee Hearing, go to Empowering Seniors through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence | United States Senate Special Committee on Aging

Download/read the “Guarding Your Nest Egg, a Financial Resource Guide for Older Adults:   https://www.aging.senate.gov/imo/media/doc/guarding_your_nest_egg_a_financial_resource_guide_for_older_adults.pdf

Congress Moves on a National Anti-Scam Strategy to Protect Older Adults

Published in RINewsToday on December 8, 2025

Last month, the AARP, recognizing that the holiday season leading up to Christmas is widely viewed as “prime time” for scams targeting older Americans, released findings from its 2025 Holiday Shopping and Scams Survey. According to the AARP Fraud Watch Network, fraud aimed at online shoppers and holiday donors continues to skyrocket.

With Christmas fast approaching, millions of Americans are preparing to shop and give online. The Survey, released just nine days before Thanksgiving, reveals that a majority of U.S. adults (89%) have encountered at least one scam. These include fake notifications about shipment issues (55%), phony charity appeals (35%), misleading digital ads (39%), and even the physical theft of packages from porches (30%). More than half of adults said they received a fake shipping notice this year, while nearly four in ten encountered deceptive ads on social media.

“Criminals are relentless during the holidays, exploiting the many opportunities that come with a busy season—from shopping and traveling to charitable giving,” said Kathy Stokes, Director of Fraud Prevention Programs at the AARP Fraud Watch Network, in a Nov. 18 statement.  “Understanding how they operate is the first step toward protecting yourself and your loved ones,” she says.

Although online scams continue to rise, many consumers still prefer using debit cards—even though recouping funds taken from a victim’s bank account often takes far longer than resolving a disputed credit card charge. Still, the report shows that safer payment habits are gaining ground.

While 72% of consumers plan to use a debit card this year, credit card use is up significantly from 2024 (64%), with nearly seven in ten planning to use a credit card during the upcoming holiday season.

The survey also found that 64% of consumers who plan to purchase gift cards this season expect to buy them off the rack at retail stores, such as grocery stores or pharmacies. This continues to be a major vulnerability: 33% of U.S. adults reported giving or receiving a gift card with no balance. Fraudsters often record the card number, expose and reseal the PIN, then wait for activation before draining the funds.

Consumers are increasingly targeted through peer-to-peer (P2P) payment apps as well, with two in five users reporting that they have sent money to someone they did not know. Despite growing awareness, many people still underestimate the risks of using debit cards or fail to verify charitable organizations before donating.

New Federal Plan Aims to Protect Seniors

AARP’s survey found that 92% of respondents—across liberal, moderate, and conservative viewpoints—want Congress to do more to protect older adults from fraud. And Congress appears to be listening.

Last week, U.S. Sen. Kirsten Gillibrand (D-NY), ranking member of the Senate Aging Committee, held a Dec. 4 virtual press conference announcing the introduction of S. 3355, National Strategy for Combating Scams Act of 2025, legislation aimed at providing stronger safeguards for seniors this holiday season and beyond. This bill was referred to the Senate Judiciary Committee.  Gillibrand warned that financial scams, which cost Americans more than $16 billion last year, disproportionately harm older adults.

Throughout the event, Gillibrand underscored the economic hardship caused when older adults lose money to fraud. She noted the rapid evolution of artificial intelligence, which is enabling scammers to create more sophisticated and “hyper-realistic imposter scams” that require immediate government action.

Senate cosponsors include Sens. Rick Scott (R-FL), Mark Kelly (D-AZ), and Ashley Moody (R-FL). H.R. 6425, companion legislation is being led in the House by Reps. Gabe Amo (D-RI) and Derek Schmidt (R-KS).  Hopefully, we’ll see Rep. Seth Magaziner (D-RI) join Rep. Eleanor Homes Del Norton (D-District of Columbia) and Rep. Sarah McBride (D-DE) as cosponsors.

According to Gillibrand, more than four in ten Americans say they have lost money to scams or had their sensitive information stolen. Older adults account for an estimated 30% of financial losses, with an average loss of $83,000 per incident. Gillibrand shared the story of a 75-year-old man who received up to five scam calls each day and a senior woman who lost $39,000.

The Government Accountability Office (GAO), often referred to as Congress’s watchdog, recently identified at least 13 federal agencies conducting anti-scam efforts, each working independently under different mandates. GAO recommended that the FBI take the lead in establishing a unified National Strategy for Combating Scams. Gillibrand’s bill would give the FBI a legal obligation to implement that framework.

During the press conference, Gillibrand also addressed underreporting, noting that many victims—like her own aunt who lost $5,000 to a scammer impersonating an FBI agent—feel too embarrassed to tell family members or law enforcement. She shared the story in response to a question from Brian O’Neill, host of Newsmaker on WLEA Radio, underscoring how shame and secrecy allow scammers to continue exploiting vulnerable individuals.

“I’m proud to introduce the bipartisan National Strategy for Combating Scams Act to help make sure seniors don’t get scrooged this holiday season,” said Gillibrand. “It’s clear that we need a coordinated national strategy to tackle the increasingly sophisticated scams targeting our seniors, and this legislation would bring that to fruition. I look forward to working with colleagues on both sides of the aisle to get this vital bill across the finish line.”

Sen.Rick Scott (R-FL), chair of the U.S. Senate Special Committee on Aging, added: “Families across the country are being hammered by increasingly sophisticated scams, and Washington has been far too slow to respond. This bipartisan effort finally brings federal agencies together, cuts duplication, and creates a real national plan to protect seniors and hardworking Americans.

AARP, which represents 125 million adults age 50 and over, strongly endorses the National Strategy for Combating Scams Act of 2025. “The strategy encourages smarter use of technology, better data collection, and stronger partnerships with banks, tech companies, and law enforcement to help prevent scams and support victims. And it prioritizes making resources easier to access, providing more effective recovery for those who’ve been targeted,” says AARP’s Jennifer Jones, vice president of Financial Security & Livable Communities, Government Affairs.

House Considers Companion Anti-Scam Bill

On the House side, Rep. Amo introduces a companion measure (H.R. 6425). “Too many Rhode Islanders have been taken for a ride by scammers skimming their pockets and stealing their hard-earned money, leaving many devastated and destitute,” he said. “I’m proud to introduce the bipartisan National Strategy for Combating Scams Act to ensure we are addressing the rising scam threat in a coordinated and strategic manner.”

According to the FBI, Rhode Islanders lost $6,309,411 to senior fraud in 2024 alone. Earlier this year, Amo launched the bipartisan Stop Scams Caucus to combat financial fraud, cyber scams, and cross-border criminal networks. In Rhode Island, he also convened a roundtable discussion at the Middletown Senior Center focused on scam prevention.

The National Strategy for Combating Scams Act is endorsed by a broad coalition of national organizations, including AARP, Aspen Institute Financial Security Program, Chamber of Progress, Global Anti-Scam Alliance, Justice in Aging, the National Adult Protective Services Association (NAPSA), National Association of Social Workers, National Asian Pacific Center on Aging, National Caucus and Center on Black Aging, National Sheriffs’ Association, Stop Scams Alliance, and many others.

To view AARP’s holiday scam report, go to https://www.aarp.org/content/dam/aarp/research/topics/work-finances-retirement/fraud-consumer-protection/holiday-shopping-scams-2025.doi.10.26419-2fres.00992.001.pdf

Senate Aging Committee Seeks Renewal of Older Americans Act 

Published in RINewsToday on November 10, 2025

 With over 359 days until the mid-term elections, the U.S. Senate Select Committee on Aging held a hearing last week to emphasize the need for reauthorizing the Older Americans Act (OAA), a crucial piece of federal legislation that expired the previous year. The hearing highlighted the key role OAA plays in assisting Americans living with age-related diseases, such as Alzheimer’s and Parkinson’s, as well as their caregivers.

Last reauthorized in 2020, the OAA expired during the 118th Congress. S. 4776, introduced by Senator Bill Cassidy, M.D. (R-LA), chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, and Senator Bernie Sanders (I-VT), the committee’s ranking member, passed the Senate by unanimous consent last year. However, the House failed to pass a companion measure due to unrelated political disagreements.

Senate Bipartisan Bill Introduced to Reauthorize the OAA

On June 18, 2025, Chairman Cassidy, alongside nine co-sponsors, reintroduced the OAA Reauthorization Act of 2025 (S. 2120). This 91-page bill would authorize new funding a strengthen services for older Americans. The bipartisan bill was referred to the Senate HELP Committee the day it was introduced, where hearings, markups, and a committee vote are expected. If approved, it will move to the full Senate. As of press time, a companion bill had not yet been introduced in the House.

 Chairman Cassidy’s co-sponsors include Senators Bernie Sanders, Kirsten Gillibrand (D-NY), Rick Scott (R-FL), chair of the Senate Special Committee on Aging, Lisa Murkowski (R-AK), Tim Kaine (D-VA), Ben Ray Luján (D-NM), Ed Markey (D-MA), Markwayne Mullin (R-OK), and Susan Collins (R-ME).

 Although S. 2120 closely mirrors last year’s S. 4776, there are notable differences. Specifically, it would reauthorize OAA programs through FY 2030 and increase funding by 18% over the next four years. It also includes measures to promote innovation, strengthen the Long-Term Care Ombudsman Program, and expand the National Family Caregiver Support Program. Additionally, the bill aims to improve services for Tribal elders and older adults with disabilities, ensuring these populations remain active and supported in their communities.

 S. 2120 would also address elder abuse by establishing a clearinghouse for best practices, focusing on legal and protective services to strengthen state ombudsman programs, adult protective services, and related legal supports.

 Senate Aging Committee Hearing Highlights Call for S. 2120 Passage

 On November 5, 2025, Chairman Rick Scott (R-FL) and Ranking Member Kirsten Gillibrand (D-NY) of the Senate Aging Committee held a full committee hearing titled “Renewing Our Commitment: How the Older Americans Act Uplifts Families Living with Aging-Related Diseases.” The hearing, which took place in SD-216 at 3:30 p.m., focused on how OAA-funded programs provide critical support to millions of Americans with Alzheimer’s and Parkinson’s disease. The goal of the hearing was to push for the passage of S. 2120 with bipartisan support.

In his opening statement, Chairman Scott emphasized the importance of reauthorizing the OAA to ensure that programs and services keep pace with a rapidly growing aging population—one increasingly affected by Alzheimer’s and Parkinson’s diseases, placing greater demands on caregivers.

“More than 7 million older Americans are living with Alzheimer’s disease, and nearly 1 million are affected by Parkinson’s,” said Scott. “Behind these numbers are caregivers—a husband, a wife, a son, or a daughter—providing unpaid, around-the-clock care.”

“Every service made possible by this law [OAA] represents compassion made real,” he added.

Ranking Member Gillibrand opening statement pointed out that most people are unaware of the OAA’s existence, despite the fact that one in six older adults benefit from its programs. “In 2024, the OAA generated 3.39 times its investment in community value and taxpayer savings. Through efficient service delivery, older adults avoided 1.9 million days of long-term hospital stays and institutional care,” she said.

“It’s not the time to take our foot off the gas,” Gillibrand continued. “Even though there have been minimal interruptions in service delivery since the Act’s authorization expired last year, it is vital that we pass a reauthorization this fall to modernize the statute and reflect the evolving needs of older adults.”

The three witnesses at this Senate Aging Committee hearing shared how OAA-funded services—such as adult day centers, home-delivered meals, caregiver support, and specialized exercise programs—helped them to maintain their health, and independence. They pointed out that these community-based services not only provided caregivers with the critical support, more important they were cost-effective alternatives to more costly nursing home care.

Key Testimonies Highlight the Impact of OAA Programs

Erick Montealegre, a volunteer community educator for the Alzheimer’s Association and a caregiver for his father, who was diagnosed with mild cognitive impairment, told the panel that adult day care centers and home-delivered meals—funded by the OAA—had made a “world of difference” in his father’s quality of life, providing essential respite care for his family.

Montealegre highlighted the importance of these programs being culturally and linguistically appropriate. His 84-year-old father, who had lost the ability to speak English and reverted to speaking his native Spanish, benefitted greatly from services that met his language needs.

“This hearing is especially meaningful to me because it’s taking place in November, National Family Caregivers Month,” Montealegre noted. In conclusion, he said, “Reauthorizing and strengthening the Older Americans Act is an investment in our families, our dignity, and our community.”

Steve Sappington, who has lived with Parkinson’s disease for the past ten years, explained that an OAA-supported exercise program, Rock Steady Boxing, has significantly slowed the progression of his symptoms. Recounting his experiences in living with Parkinson’s, he noted that he went eight years without having to increase his Parkinson’s medication after starting the boxing program. His neurologist called it a “miracle” and said he had never seen anything like it before.

“Programs like ours are possible because of the foundation laid by the OAA,” Sappington said. “Local OAA-funded services—such as transportation, congregate and home-delivered meals, caregiver support, adult day services, and other vital programs—make it possible for older adults like me to stay active and connected.” He urged Congress to reauthorize the OAA to ensure continued support for these essential services.

However, Sappington also pointed out that many older adults remain unaware of the services available to them, emphasizing the need for culturally competent outreach, particularly to low-income, rural, and minority communities.

 Duana Patton, Chief Executive Director of the Ohio District Five Area Agency on Aging and Board President of USAging, emphasized that Area Agencies on Aging (AAAs) serve as the “front door” to a network of local, community-based services. She argued that the OAA represents a cost-effective investment for the federal government, as its programs help older adults remain in their communities, which is far less expensive than placement in costly nursing homes.

 “The longer older adults can successfully age at home, the better it is financially for families and the federal government,” Patton explained. Having worked in the AAA field for over 31 years, she cited the example of “Ms. Gray,” a client who, after receiving in-home personal care and meals funded by the OAA, no longer required hospital readmissions due to the significant improvements in her health.

The witnesses stressed that the OAA needs to be promptly reauthorized, strengthened, and modernized to provide local agencies with the flexibility required to meet the evolving needs of their communities.

 A Final Note…

“We hope the Senate’s OAA reauthorization bill (S. 2120) can move forward soon, either under Unanimous Consent or attached to another legislative vehicle,” says Amy Gotwals, Chief of Public Policy and External Affairs at USAging. “While the House has yet to announce a specific plan, USAging, along with other aging organizations, is advocating for a bipartisan, bicameral bill that will pass before the end of the year.”

Gotwals notes that, although the reauthorization is important, it is not immediately necessary to ensure continued funding for the OAA. “President Trump’s budget, along with both the Senate and House FY 2026 bills, protect all but one OAA program—the Title V Senior Community Service Employment Program. If there’s a year-long Continuing Resolution, all programs will be protected,” she adds.

 “The shutdown remains our biggest challenge right now,” Gotwals concludes.