Bill > S749

This bill establishes an interagency financial scams task force comprised of 21 members from various government agencies, legislative bodies, and advocacy organizations to comprehensively address financial fraud across Massachusetts. The task force, which will be co-chaired by members appointed by the senate president and house speaker, includes representatives from key state offices like the Attorney General, Secretary of State, and Treasurer, as well as experts from organizations such as the Massachusetts Bankers Association and AARP. The task force is charged with conducting a thorough investigation of financial scams, including gathering information about known scam types, identifying high-risk sources and vulnerable population segments, assessing current legal protections, exploring public education opportunities, and determining how state agencies can more effectively combat financial fraud. The members are required to produce a detailed report with findings and proposed legislation within one year of the act's implementation, which will be submitted to legislative clerks and the joint committee on financial services. The broad and collaborative nature of the task force aims to create a comprehensive strategy for protecting Massachusetts residents from financial scams.

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https://malegislature.gov/Bills/194/S749