New helpline for seniors to resolve billing errors and fraud
This new law requires financial companies to set up dedicated helplines for individuals aged 50 and older. This will make it easier for seniors to report and resolve billing issues and protect themselves from fraudulent activities. Importantly, the helpline will not require sensitive personal information, like a social security number, to verify age.
Key points
Financial companies must establish toll-free helplines for individuals aged 50 and older to assist with billing errors.
Helplines aim to help seniors report fraud and navigate the dispute resolution process.
Operators of these helplines cannot demand sensitive personal information, such as a social security number, to verify age.
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