CFPB Picks Humphrey to Protect Seniors

HousingWire reports the son of former Senator and U.S. Vice-President Hubert Humphrey will join the Consumer Financial Protection Bureau (CFPB) to head the Office of Older Americans. Hubert “Skip” Humphrey III served 16 years as Minnesota’s attorney general and most recently was head of the Minnesota AARP (American Association of Retired Persons), and sits on the association’s national board. Part of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), the division is designed to protect seniors from fraudulent and deceptive lending practices by educating them about financial choices and coordinating with law enforcement agencies to uncover scams that target older Americans. Says Raj Date, special adviser to the Treasury: “As baby boomers join the ranks of the retired, their hard-earned savings should help them realize opportunities, not serve as the target of deception and fraud. Skip’s experience as a state attorney general and state senator, and his work with seniors in his home state of Minnesota as well as on the national front, make him a perfect fit to lead the Office of Older Americans.”

(Photo credit: AARP)

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