FOR IMMEDIATE RELEASE:
June 13, 2013

Assembly Passes Legislative Package to
Increase Protections for Senior Citizens
Measures Included in the Legislative Package Address
Financial Exploitation as a Form of Elder Abuse


To address incidences of abuse and neglect of seniors, Assembly Speaker Sheldon Silver and Aging Committee Chair Joan L. Millman today announced the approval of legislation aimed at increasing protections to help prevent elder abuse.

"Nearly five million cases of elder abuse occur each year in the United States, however researchers estimate that 85 percent of these incidents go unreported," said Silver. "The lack of reporting on these cases is a serious problem that threatens the well-being of seniors throughout New York. Today, with the approval of this legislative package we are increasing public awareness on this issue and empowering seniors with the tools they need to help stop this type of abuse."

Financial exploitation is a large and quickly growing segment of elder abuse that costs older Americans more than $2.6 billion each year. To address this growing problem, a bill sponsored by Assemblywoman Annette Robinson would create an opt-in program for seniors that would require financial institutions to issue a report of suspected financial abuse to adult protective services and law enforcement officials (A.7345-B).

"Elder abuse transcends physical and psychological harm," said Millman. "It is also characterized by financial exploitation, which is too often committed by family members or caretakers. Our seniors have worked too hard all their lives and deserve to be adequately protected. Measures approved today would help to curb this growing epidemic by increasing protections and educating seniors, their loved ones and members of the community of their rights."

To further safeguard seniors from financial abuse, legislation included in the package of bills would prevent financial institutions that voluntarily report suspected incidences of financial abuse from being sued if the report is submitted in accordance with guidelines set forth by the Department of Financial Services (A.1783-B/Millman).

Seniors are particularly vulnerable to deceptive business practices that attempt to cheat them out of their hard-earned money. A measure included in the legislative package would require professionals who use a title or designation that indicates specific knowledge or training in senior issues to disclose the source of the title or designation to their customers (A.1787-A/Millman).

As many more seniors are aging in place, it is important that information is available to them regarding elder abuse and exploitation. A measure sponsored by Assemblywoman Gabriela Rosa would make educational programs available on elder abuse for seniors who live in Naturally Occurring Retirement Communities (NORCs) and Neighborhood NORCs (A.7231).

Silver and Millman highlighted the need for increased protections for seniors by noting that, for every case of elder abuse, neglect, exploitation or self-neglect reported to the authorities, about five more go unreported.

"I commend Assemblywoman Millman for her efforts to increase public awareness on this issue and my Assembly colleagues for supporting these initiatives," Silver concluded. "Through the approval of this legislative package the Assembly is taking the appropriate steps to prevent elder abuse."