[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 3621 Introduced in Senate (IS)]

112th CONGRESS
  2d Session
                                S. 3621

  To amend the Older Americans Act of 1965 to provide for a Seniors' 
           Financial Bill of Rights, and for other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 21, 2012

  Mr. Manchin introduced the following bill; which was read twice and 
  referred to the Committee on Health, Education, Labor, and Pensions

_______________________________________________________________________

                                 A BILL


 
  To amend the Older Americans Act of 1965 to provide for a Seniors' 
           Financial Bill of Rights, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Seniors' Financial Bill of Rights 
Act''.

SEC. 2. FINANCIAL COUNSELING AND LEGAL ASSISTANCE BY AGING AND 
              DISABILITY RESOURCE CENTERS.

    (a) Definition.--Section 102(4) of the Older Americans Act of 1965 
(42 U.S.C. 3002(4)) is amended--
            (1) in subparagraph (B), by striking ``and'' at the end;
            (2) in subparagraph (C), by striking the period and 
        inserting ``; and''; and
            (3) by adding at the end the following:
                    ``(D) financial counseling and legal assistance 
                described in section 202(b)(8).''.
    (b) Duties.--Section 202(b)(8) of the Older Americans Act of 1965 
(42 U.S.C. 3012(b)(8)) is amended--
            (1) in subparagraph (D), by striking ``and'' at the end;
            (2) in subparagraph (E), by adding ``and'' at the end; and
            (3) by adding at the end the following:
                    ``(F) to provide financial counseling and legal 
                assistance, particularly with regard to powers of 
                attorney and the duties of agents or attorneys under a 
                power of attorney, and of fiduciaries.''.

SEC. 3. COORDINATION.

    Section 201(e)(2) of the Older Americans Act of 1965 (42 U.S.C. 
3011(e)(2)) is amended--
            (1) in subparagraph (A), by striking ``and'' at the end;
            (2) in subparagraph (B), by striking the period at the end 
        and inserting ``; and''; and
            (3) by adding at the end the following:
            ``(C)(i) to coordinate, with other Federal agencies 
        including the Office of Older Americans of the Consumer 
        Financial Protection Bureau and the President's Advisory 
        Council on Financial Capability of the Department of the 
        Treasury, activities and research related to the economic 
        security and financial exploitation of older individuals; and
            ``(ii) to use the coordinated activities and research to 
        make available to States and local organizations resources, 
        technical assistance, and information for the purpose of 
        carrying out the State Seniors' Financial Bills of Rights 
        described in section 307(a)(31), preventing and responding to 
        the financial exploitation of older individuals, establishing a 
        geographically based measure of economic security, and 
        providing the services and supports needed for the economic 
        security of older individuals.''.

SEC. 4. SENIORS' FINANCIAL BILL OF RIGHTS.

    Section 307(a) of the Older Americans Act of 1965 (42 U.S.C. 
3027(a)) is amended by adding at the end the following:
            ``(31) The plan shall include an assurance that the State 
        will establish--
                    ``(A) a State Seniors' Financial Bill of Rights 
                that--
                            ``(i) addresses access by older individuals 
                        to--
                                    ``(I) sufficient information about 
                                their financial rights, specifically 
                                rights with regard to powers of 
                                attorney and the duties of their agents 
                                or attorneys under a power of attorney, 
                                and of fiduciaries;
                                    ``(II) financial counseling 
                                resources to make informed financial 
                                choices;
                                    ``(III) legal assistance to protect 
                                their financial rights; and
                                    ``(IV) adult protective services 
                                and appropriate law enforcement and 
                                regulatory authorities, in situations 
                                in which financial exploitation is 
                                alleged or suspected; and
                            ``(ii) assures that agents or attorneys 
                        under a power of attorney, fiduciaries, staff 
                        that provide long-term care, financial 
                        institutions, and law enforcement agencies have 
                        sufficient information about the financial 
                        rights of, and signs of financial exploitation 
                        of, older individuals; and
                    ``(B) means for older individuals, and individuals 
                and entities described in subparagraph (A)(ii), to 
                obtain those rights to information, resources, and 
                assistance, as the case may be.''.
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