CFPB: Reverse Mortgage Ads Can Confuse More Than Inform

Advertisements touting reverse mortgages often leave older consumers confused about the loan terms and unaware of the risks, according to a new report from the Consumer Financial Protection Bureau. “Perhaps most concerning of all, the ads left the consumers believing that if they purchase a reverse mortgage loan, they will be able to rest assured that they can live in their homes and enjoy financial security for the rest of their lives,” CFPB Director Richard Cordray said in a teleconference. …

Labor Department Proposes Rule to Save Retirees Billions

Financial advisers would have to adhere to more stringent standards when giving advice on 401(k) plans, IRAs and other retirement accounts under a rule proposed Tuesday by the U.S. Department of Labor. The proposed rule would protect people saving for retirement from being steered into accounts with high fees and commissions that benefit the adviser at the expense of the saver. It would force financial professionals to act in the best interest of their clients — a move that advocates say would …

Celebrate 62 Million Strong During National Volunteer Week

Every month, I learn about a new holiday or commemorative date to raise awareness.  From the sublime to the ridiculous, there are 30 such commemorations in April, including Vitamin C Day and Wear Your Pajamas to Work Day. While there’s a lot to celebrate about taking your vitamins — and taking business casual to the next level — there is one event in particular this month that I believe deserves our attention and support. This week marks National Volunteer Week …

Reaching Across Party Lines to Support Caregivers

Members of Congress announced Tuesday the formation of the Assisting Caregivers Today caucus, a bipartisan coalition that aims to bring more attention to the plight of family caregivers. With the support of AARP and more than 20 other national organizations, Sens. Kelly Ayotte (R-N.H.) and Michael Bennet (D-Colo.) and Reps. Diane Black (R-Tenn.) and Michelle Lujan Grisham (D-N.M.) had an afternoon news conference to announce their efforts to provide more help for people to live independently as well as to …

Tampa Forum Kicks Off Conversations on Aging

“Make this a national conversation,” Cecilia Muñoz, director of the White House Domestic Policy Council, urged participants in Tampa at the first in a series of five regional forums preparing for the White House Conference on Aging this summer. The invitation-only forums allow older Americans and those who work with and for them an opportunity to voice their opinions and concerns on various issues. Discussions aim to form a vision and agenda for the White House conference, held in Washington …

Tell Congress Not to Leave Seniors Stranded

The Older Americans Act (OAA) is critical to helping seniors live independently as they age. Last month, the Senate HELP Committee unanimously approved the Older Americans Act Reauthorization Act of 2015, a bipartisan bill supported by AARP. The bill now awaits a vote in the full Senate. This is the third in a three-part series detailing the importance of programs funded by the OAA to the dignity of seniors across America. How would you get to your doctor’s appointment if you didn’t have a car? …