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A large majority of state laws lack protections for individuals creating financial powers of attorney, according to the Public Policy Institute’s research report, Power of Attorney Abuse: What States Can Do About It.
A power of attorney is a critical planning tool – a legal document delegating authority to another person to handle financial matters. As the population ages, the power of attorney will be used even more often to appoint trusted family members and others. But the power of attorney can also be a “license to steal” because it grants broad powers with little oversight.
The PPI report, written by attorneys at the American Bar Association Commission on Law and Aging, explores the problem of power of attorney abuse and how state legislatures can protect vulnerable adults against it. It explains how the new Uniform Power of Attorney Act helps prevent, detect and redress abuse, and provides resources to promote enactment of this model law. A two-page In Brief summarizes the key points in the report.
Need for Low-Income Heating Assistance Continues Despite Recent Drop in Some Home Heating Costs This fact sheet explains that low-income households continue to struggle to pay for heat and the Low-Income Energy Assistance Program remains inadequate to help low-income individuals and families.
Can Advance Metering Help Reduce Electricity Costs for Residential Consumers? This paper examines advanced metering, a system to charge consumers different prices for electricity on the basis of the time of day the electricity is used, and potential benefits and concerns.
Fraud And Deception
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In Brief: Power of Attorney Abuse: What States Can Do About It
This brief synopsis of an AARP Public Policy Institute research paper, by Lori A. Stiegel and Ellen VanCleave Klem of the American Bar Association Commission on Law and Aging, explains how the Uniform Power of Attorney Act helps prevent, detect and redress power of attorney abuse, and provides resources to promote enactment of this model law. (2 pages)
December 4, 2008
By: Naomi Karp, J.D., AARP Public Policy Institute | Source: AARP Public Policy Institute
Power of Attorney Abuse: What States Can Do About It
This PPI research report, by Lori A. Stiegel and Ellen VanCleave Klem of the American Bar Association Commission on Law and Aging, explains how the Uniform Power of Attorney Act helps prevent, detect, and redress power of attorney abuse and provides resources to promote enactment of this model law. (88 pages)
November 25, 2008
By: Lori A. Stiegel, JD; Ellen M. Klem, ABA Commission on Law and Aging; American Bar Association Commission on Law and Aging
Barriers to the Use of Security Freezes by Older Consumers
Older consumers are largely unaware of their option to use a security freeze to shield their credit reports from identity thieves, according to this AARP Public Policy Institute Data Digest by Neal Walters, which also finds that older consumers would be more likely to use a security freeze if the process of placing and using it was easier and less costly. (4 pages)
October 31, 2007
By: Neal Walters, AARP Public Policy Institute | Source: AARP Public Policy Institute
FYI: The Subprime Market: Wealth Building or Wealth Stripping for Older Person
While the “democratization of credit” has led to record numbers of Americans reaching the American dream of homeownership, there is growing evidence that many borrowers are now being sold products that strip, not build, home equity and household wealth. In this AARP Public Policy Institute FYI report, Sharon Hermanson discusses ethnic background lending disparities, predatory loan practices, and increasing foreclosure rates. (4 pages)
June 30, 2007
By: Sharon Hermanson, AARP Public Policy Institute | Source: AARP Public Policy Institute
Fighting Identity Theft: Lessons from the United Kingdom
The chip and PIN system’s effectiveness in reducing several types of card fraud, including counterfeit card fraud and account takeover fraud, in Britain and other countries using similar technology – and its possible applicability to America’s identification theft problems – are examined in this AARP Public Policy Institute Fact Sheet by Neal Walters. (2 pages)
June 15, 2006
By: Neal Walters, AARP Public Policy Institute | Source: AARP Public Policy Institute
Protecting Social Security Numbers from Identity Theft
Inappropriate use and a lack of security makes Social Security numbers (SSNs) vulnerable to access by identity thieves. This AARP Public Policy Institute Fact Sheet by Neal Walters and George Gaberlavage examines public and private sector use of SSNs and identifies policy options proposed at both state and federal levels to strengthen SSN protections. (4 pages)
September 23, 2005
By: Neal Walters, AARP Public Policy Institute; George Gaberlavage, AARP Public Policy Institute | Source: AARP Public Policy Institute
Protecting Your Home, Car and Retirement Savings
This forum brought consumer activists, industry representatives and state/federal officials together to look at how fraud impacts financial security, especially for older Americans—and explore innovative solutions and policy options for combating these scams. Luncheon speaker SEC Chairman Mary Schapiro announced new SEC initiatives against fraud and investigation into the suitability of investment products for seniors.
September 23, 2005
By: AARP Public Policy Institute | Source: AARP.org
Gone Phishing: The Internet and Identity Theft
How “phishing” deceives unsuspecting Internet users into disclosing sensitive personal information is examined in this AARP Public Policy Institute Fact Sheet by Neal Walters which explores efforts by state governments and individual consumers to combat this rapidly expanding online fraud. (2 pages)
June 7, 2005
By: Neal Walters, AARP Public Policy Institute | Source: AARP Public Policy Institute
Identity Theft: Experience of Older Complainants
Results from analysis of special tabulations by the Federal Trade Commission for AARP’s Public Policy Institute of complaint data for 2001, gathered by the FTC’s Identity Theft Data Clearinghouse, are reported in this PPI Data Digest by Neal Walters and Ann McLarty Jackson. (4 pages)
March 1, 2003
By: Neal Walters, AARP Public Policy Institute; Ann McLarty Jackson, AARP Public Policy Institute;
Payday Loans: A Model State Statute
For many consumers, a payday loan at very high annual percentage rates may be their only source of credit. In this AARP Public Policy Institute report, Elizabeth Renuart of the National Consumer Law Center proposes the Deferred Deposit Loan Act as a model state statute for reducing or eliminating the practice's most serious problems and abuses. (71 pages)
October 1, 2000
By: Elizabeth Renuart, Attorney, National Consumer Law Center | Source: AARP Public Policy Institute; National Consumer Law Center
Solutions Forums
Saving Jobs in A Recession: How Work Sharing Can Help
Seventeen states have programs that use unemployment funds to keep workers on the job with reduced hours. Learn how federal and state policy can better promote these work-sharing programs--and how several European nations have implemented work-sharing.
The Auto IRA: Strategies for Successful Implementation
Experts from the US and abroad discussed how an Auto-IRA can improve retirement security; lessons from similar programs in New Zealand and the UK; and how the Auto-IRA can work well for workers, small business and the financial industry.
Protecting Your Home, Car and Investment Savings: How to Stop Financial Fraud
How fraud impacts financial security, especially for older Americans—and discussion of policy options for combating mortgage, auto sales and investment scams. Luncheon speaker SEC Chairman Mary Schapiro discussed the Commission’s priorities on financial fraud.
Getting it Right: Smart Housing and Transportation Planning for Livable Communities
This forum featured release of new research on preserving subsidized housing near transit and discussion of how to coordinate housing, transportation and land use policy to develop livable communities.
What Happened to My Social Security COLA?
Why no COLA is expected for 2010 and how this affects individuals and the states. Panelists include experts from the Social Security Administration, AARP, the National Governors Association and the Kaiser Family Foundation.
A New Look at Making Financial Decisions for Retirement
PPI released a series of new reports offering a fresh look at financial decisions related to retirement. Experts examined why many people make poor choices and explore how to improve the options available to retirees.
Fixing Chronic Care in America
National experts discussed problems facing millions of Americans with multiple chronic conditions, and explored potential solutions highlighted in a new PPI publication, Chronic Care: a Call to Action for Health Reform and in a new video Faces of Chronic Care.
AARP Public Policies
Learn about the policy development process at AARP. For a complete guide to AARP's positions on public issues, see The Policy Book, AARP Public Policies 2009-2010.
Center to Champion Nursing in America
The Center to Champion Nursing in America seeks to ensure Americans have the highly skilled nurses we need to provide affordable, quality health care. The Center serves as a consumer-driven, national force to increase the nation’s capacity to educate and retain nurses.
