NAIFA supports the bipartisan Empowering States to Protect Seniors Against Bad Actors Act, which would establish a grant program at the U.S. Securities and Exchange Commission to help states fund initiatives to protect consumers against financial scams. The grants would help states staff anti-scam enforcement offices, invest in technology, develop educational resources, and devise strategies specifically designed to protect seniors from financial exploitation and fraud.

The bicameral legislation has been introduced by Representatives Zach Nunn (R-IA) and Josh Gottheimer (D-NJ) and Senator Chris Van Hollen (D-MD). Representative Gottheimer recognized NAIFA's support of the bill in a recent press release. 

Financial scams last year resulted in more than 100,000 seniors losing a total of more than $3.4 billion, according to the FBI. NAIFA has supported a variety of state and federal policies designed to protect seniors and all consumers from financial fraud. As financial professionals who abide by a strong Code of Ethics, NAIFA members have dedicated their careers to protecting Americans' financial security.