ROUND-UP: Governor Wolf Announces Consumer Financial Protection Initiative

November 13, 2015

Harrisburg, PA – Yesterday, at the opening of the Ann B. Barshinger Financial Empowerment Center, Governor Wolf announced a consumer financial protection initiative aimed at educating the public about financial protection and best practices in a concise, efficient way. The four goals of the initiative include protecting consumers against “easy money” scams, preventing elder financial abuse, helping working adults plan for retirement, and establishing a financial education exchange.

Check out some of the coverage of the announcement below:

AP: Wolf takes on financial scams, presses financial education

Gov. Tom Wolf says he wants his administration to do more to protect people from lending scams and scams that target the elderly, and to help people save for retirement and get financial education. Wolf said Thursday that the efforts will be coordinated by the state Department of Banking and Securities. As part of it, the state will start distributing information warning motorists to be wary of companies that offer cash loans in exchange for car titles. The state also will provide information to health care and legal professionals to help them prevent scams that target the elderly. The banking department also plans to coordinate an information exchange between more than a dozen Pennsylvania state agencies that have not previously shared their financial education and consumer outreach programs. [AP, 11/12/15]

Central Penn Business Journal: Gov. Wolf unveils initiatives to address predatory loans, elder financial abuse

Gov. Tom Wolf wants to do more to protect consumers from predatory lending, elder financial abuse and retirement shortfalls. As part of his ongoing “government that works” tour, Wolf was in Lancaster County this morning to announce a four-part consumer financial protection initiative. Through a new financial services for consumers and business division within the Department of Banking and Securities, the governor wants to establish an interagency financial education exchange that would create a one-stop shop for consumers seeking financial advice. [Central Penn Business Journal, 11/12/15]

Beaver County Times: Gov. Tom Wolf announces consumer financial protection initiative

“Gov. Tom Wolf on Thursday unveiled a new consumer financial protection initiative to help Pennsylvanians with issues such as predatory lending, financial abuse of seniors and retirement planning. Created under the state Department of Banking and Securities, the new Financial Services for Consumers and Business division will “educate the public about financial protection and best practices in a concise, efficient way,’ Wolf said in a statement from his office.” [Beaver County Times, 11/12/15]

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