Friday, March 23, 2007
Several of my colleagues are proposing new laws to help protect members of the military from financial fraud. During a news conference Wednesday, they described a variety of scams - including life insurance policies that don't cover death in combat and companies with representatives who use vague, military-style titles to make young, naïve soldiers believe their services are endorsed by the military. One proposal would ban the sale of "predatory policies" to the military. Another would establish a new consumer protection specialist job in the Department of Insurance to help military members who are the victims of fraud.