DCUC Calls for Stronger Protections of Veterans Against Financial Scams in Senate Special Committee on Aging Letter

Today, the Defense Credit Union Council (DCUC) sent a letter to  Senators Bob Casey (D-PA) and Mike Braun (D-IN) of the Senate Special Committee on Aging,  addressing the increasing threat of financial fraud targeting older citizens, with a specific focus  on veterans. DCUC’s letter provided comments for the committee’s review ahead of the  committee’s September 19, 2024, hearing titled, “Fighting Fraud: How Scammers are Stealing  from Older Adults.” 

In the letter, Jason Stverak, DCUC’s Chief Advocacy Officer, emphasized that veterans are disproportionately targeted by financial scams and how DCUC and its member credit unions remain dedicated to safeguarding this important segment of the population. 

Stverak highlighted the growing need for robust education and awareness programs to combat  fraud targeting veterans, noting, “We need to combat scams targeting veterans through robust  education and awareness programs that continuously develop and disseminate educational  resources to veterans and their families. This ensures they are informed about the latest scam  tactics and how to recognize fraudulent schemes.” 

DCUC member credit unions offer a wide range of financial tools and services tailored to help  veterans manage their finances securely, empowering them to monitor their accounts and make  informed financial decisions to protect themselves from fraud.  

Additionally, the letter noted DCUC’s commitment to advocacy, working at both the state and  federal levels to push for stronger consumer protection regulations and stricter penalties for  scammers targeting veterans.

Stverak also stressed the importance of collaboration between financial institutions, veteran  service organizations, and fraud prevention networks. “These partnerships enhance our ability  to create comprehensive solutions that address the unique financial challenges faced by  veterans.” 

“Veterans have sacrificed so much for our Nation, and as scams targeting veterans continue to  rise, it is critical that we ensure they are best protected from financial exploitation,” said Anthony  Hernandez, DCUC President/CEO. “Our letter to the Senate Special Committee on Aging offers  a comprehensive insight into how DCUC and our member credit unions are empowering  veterans with the necessary tools to secure their finances while advocating for stronger  regulations to safeguard veterans’ financial futures.” 

Click here to read the full letter

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