DCUC calls for stronger protections of veterans against financial scams in Senate Special Committee on Aging letter
WASHINGTON, DC (September 18, 2024) — Today, the Defense Credit Union Council (DCUC) sent a letter to Senators Bob Casey (D-PA) and Mike Braun (D-IN) of the Senate Special Committee on Aging, addressing the increasing threat of financial fraud targeting older citizens, with a specific focus on veterans. DCUC’s letter provided comments for the committee’s review ahead of the committee’s September 19, 2024, hearing titled, “Fighting Fraud: How Scammers are Stealing from Older Adults.”
In the letter, Jason Stverak, DCUC’s Chief Advocacy Officer, emphasized that veterans are disproportionately targeted by financial scams and how DCUC and its member credit unions remain dedicated to safeguarding this important segment of the population.
Stverak highlighted the growing need for robust education and awareness programs to combat fraud targeting veterans, noting, “We need to combat scams targeting veterans through robust education and awareness programs that continuously develop and disseminate educational resources to veterans and their families. This ensures they are informed about the latest scam tactics and how to recognize fraudulent schemes.”
DCUC member credit unions offer a wide range of financial tools and services tailored to help veterans manage their finances securely, empowering them to monitor their accounts and make informed financial decisions to protect themselves from fraud.
Additionally, the letter noted DCUC’s commitment to advocacy, working at both the state and federal levels to push for stronger consumer protection regulations and stricter penalties for scammers targeting veterans.
Stverak also stressed the importance of collaboration between financial institutions, veteran service organizations, and fraud prevention networks. “These partnerships enhance our ability to create comprehensive solutions that address the unique financial challenges faced by veterans.”
“Veterans have sacrificed so much for our Nation, and as scams targeting veterans continue to rise, it is critical that we ensure they are best protected from financial exploitation,” said Anthony Hernandez, DCUC President/CEO. “Our letter to the Senate Special Committee on Aging offers a comprehensive insight into how DCUC and our member credit unions are empowering veterans with the necessary tools to secure their finances while advocating for stronger regulations to safeguard veterans’ financial futures.”
For more information on DCUC’s advocacy, please visit dcuc.org/advocacy and contact Jason Stverak, DCUC Chief Advocacy Officer at jstverak@dcuc.org.
About Defense Credit Union Council (DCUC)
The Defense Credit Union Council is the trusted resource for credit unions on all military and veteran matters. By maintaining a close and constant liaison with the Pentagon, Capitol Hill, and NCUA, the Council champions the interests of credit unions serving our military and veteran communities by coordinating policy, procedures, and legislation impacting morale and welfare, financial readiness, and the delivery of quality financial products and services. Organized in 1963, the Council’s membership is comprised of more than 180 credit unions with over 37 million members. If you would like more information about this topic, please contact DCUC at hlaverty@dcuc.org.
