An Act establishing a commission to study the financial abuse of elders

HD 202 establishes a Massachusetts commission to study financial abuse of elders aged 60+ in the Commonwealth. The commission, composed of 12 members including lawmakers, elder law attorneys, elder advocacy groups, Councils on Aging representatives, and industry experts (real estate and financial services), will examine specific issues like predatory lending, property exploitation, and online fraud targeting seniors. It must study the economic impact of abuse, lending practices, real estate transfers at undervalued prices, and deceptive schemes. The commission will submit policy recommendations to state committees by December 31, 2026, to help prevent or better protect elders from financial abuse. This bill directly affects vulnerable seniors in Massachusetts and aims to inform future policy changes.