The Montgomery County Council unanimously approved legislation on Tuesday, October 20, aimed at protecting older residents and vulnerable adults from financial exploitation, fraud and deceptive business practices.
The Financial Exploitation Protection Act (Expedited Bill 16-26), led by Councilmember Kate Stewart, expands the authority of the Montgomery County Office of Consumer Protection to investigate and address financial exploitation.
The legislation prohibits using deception, intimidation or undue influence to obtain money, property or services from residents ages 68 and older or vulnerable adults who lack the physical or mental capacity to provide for their daily needs.
“Financial scams are on the rise, and older residents are afraid to pick up a call or open an email to avoid being a victim,” Stewart said.
The bill also allows the Office of Consumer Protection to establish a voluntary mediation program to resolve consumer disputes and aligns county protections with existing Maryland law.
