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Veterans Care Financial Protection Act

By November 24, 2017VA Disability

The House recently passed the Veterans Care Financial Protection Act unanimously.  The bill, if passed by the Senate, would bring rules that could make it difficult for people pretending to be financial advisers to scam veterans.

Representative Matt Cartwright introduced the bill, calling it a “bipartisan, bicameral, commonsense proposal to protect our nation’s veterans from financial scams.”

The bill requires the Veterans Administration to coordinate with other federal, state, and outside agencies to develop and implement standards to protect disabled and elderly veterans from predatory practices that appear to be financial advice.

For example, scammers took advantage of the Aid and Attendance benefit available to veterans who qualify for a VA pension and need financial help with in-home care or assisted living.  The application is free, but scammers charged a fee for helping veterans apply.  If you need help applying for the benefits you deserve, contact your local American Legion or other veteran-related organizations.

The bill calls for a Government Accountability Office report in 18 months after the bill is enacted to determine the effectiveness of the VA’s measures.