Government watch 2019 financial security and consumer affairs archive

L: On August 13, 2020 AARP CEO Jo Ann Jenkins sent a letter to President Donald Trump asking the President for a more complete explanation of his recent statements suggesting elimination of

the current dedicated funding for Social Security. The foundation of Social Security, for 85 years, is that workers and employers pay into the program, and workers earn their benefits. AARP

believes permanent elimination of payroll contributions would put Social Security benefits at risk for both current and future retirees. (PDF) L: On August 13, 2020 AARP sent a letter to

U.S. Senator Patrick Leahy (D-VT) supporting S. 4263, the John Lewis Voting Rights Advancement Act.  The right to vote is the most fundamental of all political rights, and this bill will

address the many inconsistencies that exist in voting systems throughout the country – inconsistencies both highlighted, and exacerbated, by the coronavirus pandemic. (PDF) L: On August 13,

2020 AARP sent two letters of endorsement for S. 3487 and H.R. 7620, the Edith Shorougian Senior Victims of Fraud Compensation Act (Edith’s Bill).  This legislation would allow states to

compensate older victims of financial exploitation or fraud through the Crime Victims Fund. While consumers of all ages report being victimized by scams and fraud, older Americans suffer far

greater financial losses, and are least able to recover financially. (Senate: PDF) (House: PDF) C: On August 6, 2020, AARP submitted comments to Department of Labor (DoL) on their proposed

fiduciary rule titled “Improving Investment Advice for Workers & Retirees”. AARP stressed their continued concerns with the proposal, including that, as currently written, it would

authorize a harmful level of conflicted advice by fiduciaries, that it sanctions un-allowed compensation models, and it does not provide the necessary protections for participants and

beneficiaries. AARP urged the Department to substantially modify or rescind its Proposal. (PDF) C: On August 6, 2020, AARP submitted a request to Department of Labor (DoL) for the ability to

testify at a public hearing on the Class Exemption for Improving Investment Advice for Workers & Retirees. AARP also requested at least 10 business days after the close of the hearing

to respond to any testimony. (PDF) C: On August 4, 2020, AARP submitted comments to the Consumer Financial Protection Bureau (CFPB) on their proposed rule regarding debt collection

practices.  AARP urged the CFPB to protect consumers against unfair debt collection practices and prevent them from suffering greater financial harm as a result of incomplete, inconsistent,

or misleading information about prior debts they may have incurred. (PDF) JULY L: On July 30, 2020 AARP sent a letter to Secretary Ben Carson of the U.S. Department of Housing and Urban

Development urging the Secretary to act to protect the millions of renters who are at risk of eviction with the expiration of the moratorium in the CARES Act, as well as homeowners at risk

of foreclosure and eviction due to the expiration next month of the current HUD moratorium. The COVID-19 pandemic has not only exposed serious health vulnerabilities among older adults but

has created economic instability for millions of older households. (PDF) L: On July 27, 2020 AARP sent a letter to IRS Commissioner Charles Rettig thanking him for recently articulating a

preference that the Internal Revenue Service (IRS) distribute the remaining $500 dependent payments to Social Security Administration (SSA) and Supplemental Security Income (SSI)

beneficiaries as quickly as possible. These payments are a lifeline to many older Americans who are struggling to care for younger dependents during the current financial crisis and AARP

appreciates the Commissioner’s desire to disburse these funds as soon as possible.  (PDF) L: On July 20, 2020 AARP sent a letter of support to U.S. Representative Robert Menendez for the

Emergency Housing Assistance for Older Adults Act of 2020, which would provide needed relief for seniors in low-income housing.  The coronavirus pandemic has proven to be especially

dangerous for older Americans with underlying health conditions. Tragically, tens of thousands of older Americans have lost their battles with this disease in just a few short months, so

action is urgently needed. (PDF) C: On July 20, 2020 AARP sent a letter to Acting Assistant Secretary Jeanne Wilson of the Employee Benefits Security Administration of the U.S. Department of

Labor submitting comments in response to the Department’s Request for Information on Pooled Employer Plans and other Multiple Employer Plans.  AARP is looking forward to working with the

Department to assist in the development of a viable pooled plan retirement savings system to increase coverage and improve retirement security. (PDF) S: On July 16, 2020 AARP submitted a

statement for the record to the U.S. House of Representatives Ways and Means Committee, Subcommittee on Social Security for a hearing entitled “The Impact of COVID-19 on Social Security and

Its Beneficiaries.”  AARP expressed its appreciation to the committee for its attention to the effects of the coronavirus pandemic on the economic security of the hundreds of millions of

Americans who depend, or will depend, on the modest Social Security benefits they have earned throughout their working lives. (PDF) C: On July 7, 2020 AARP sent a letter to Employee Benefits

Security Administration Acting Assistant Secretary Jeanne Klinefelter Wilson requesting that an extension be made to the comment period for the U.S. Department of Labor’s Notice of Proposed

Prohibited Transaction Class Exemption and the accompanying package of amendments concerning the Department’s vacated Conflict of Interest Rule. Given the Proposal’s structure, complexity,

and importance to the retirement security of AARP members and all older Americans, the 30-day comment deadline is simply inadequate. (PDF) MAY L: On May 14, 2020 AARP along with 19 other

organizations sent a letter to congressional leadership urging them all to provide the immediate assistance needed to prevent the default of the Postal Service (USPS), which is projected by

the Board of Governors to occur by as early as this fall.  The 20 organizations also urged Congress to provide the urgently needed financial support to prevent the default from happening.

More than ever before, people are relying on the USPS to deliver their lifesaving prescription medications and other necessities, allowing them to remain safely at home during the COVID-19

pandemic. (PDF) L: On May 12, 2020 AARP sent a letter to Social Security Administration Commissioner Andrew Saul urging him to assist Puerto Rico and the U.S. Virgin Islands to ensure Social

Security beneficiaries living in the territories are also able to receive their relief payments quickly and automatically.  (PDF) L: On May 7, 2020 AARP sent a letter to the U.S. Department

of the Treasury concerning issues with economic impact payments during the coronavirus crisis. Given the urgent need for financial help, and the risk of fraud and scams, AARP urged the

Treasury Department and the IRS to provide clearer and more detailed communications to the public about economic impact payments, especially being clear with a timeline about when and how

exactly remaining payments will be delivered. AARP also urged that a phone line be established for people who have specific questions about their payments or who do not have access to a

computer, and shared some frequently asked questions AARP has received about the payments. (PDF)