The Takeaway: AARP CEO Addresses Debt Committee; New Federal Office Focuses on Senior Scams

AARP CEO A. Barry Rand sent a letter yesterday to the debt Super Committee asking the 12-member panel not to include Social Security or Medicare benefit cuts in its plans. And the newly-created Office of Older Americans, within the U.S. Consumer Financial Protection Bureau, will focus on stopping the financial abuse of older adults. Regulators say financial fraud costs older Americans about $3 billion a year.