An Act establishing a commission to study the financial abuse of elders

194th Legislature (2025-2026) Introduced by Colleen Garry and 9 co-sponsors

Creates a 13-member cross-branch commission in Massachusetts to study elder financial abuse and draft policy protections, with a final report due by Dec 31, 2026.

Accompanied a new draft, see H4749

Purpose and Intent

Establish a special commission in Massachusetts to study financial abuse of elders and to draft policies aimed at preventing and better protecting older residents from financial exploitation.

The Commission is charged with analyzing how elder financial abuse occurs and recommending concrete policy measures for the Legislature to consider.

Key Provisions

Commission Composition

The bill creates a 13-member commission with diverse representation:
- 3 members of the Massachusetts House of Representatives (2 appointed by the Speaker, 1 by the Minority Leader)
- 3 members of the Massachusetts Senate (2 appointed by the President of the Senate, 1 by the Senate Minority Leader)
- 2 attorneys admitted to the Massachusetts Bar specializing in elder and estate law
- 1 representative from an advocacy group in Massachusetts with a history of elder interests
- 2 representatives employed by Councils on Aging or organizations administering protective services for elders
- 1 representative from an association/advocacy group with a background in the real estate industry
- 1 representative from an association/advocacy group with a background in the financial services industry

Areas to be Studied

The Commission will examine:
1. The economic impact and mechanisms of financial abuse on individuals over age 60 in the Commonwealth
2. Lending and refinancing practices targeting customers aged 60 and older
3. Exploitative transfers of real estate or other valuable property from dependent elders to fiduciaries for significantly less than market value
4. Fraudulent or deceptive schemes targeting elderly residents via telemarketing, the internet, or other means
5. Any other forms of elder financial abuse

Reporting

The Commission must prepare a report with policy recommendations to prevent or better protect elders from financial abuse.

The report must be filed with the clerk of either chamber and with the Chairs of the Joint Committee on Elder Affairs and the Joint Committee on Financial Services no later than December 31, 2026.

Procedural and Timeline Aspects

Introduced: February 27, 2025

Referred to: Elder Affairs (initial referral)

Senate action: Senate concurred (status update in records)

Subsequent actions: Referred to Aging and Independence (June 27, 2025); hearing scheduled (September 16, 2025)

Status update: Accompanied a new draft on November 20, 2025 (H 4749)

Related matters: Similar prior-year filing noted (House 632 of 2023-2024)

Impact and Implications

If enacted, the bill would establish a formal, cross-branch commission to produce actionable policy recommendations regarding elder financial abuse.

Representation includes legal, advocacy, protective services, aging networks, real estate, and financial services sectors to ensure a broad set of perspectives.

The resulting policy proposals could inform future legislation, regulatory guidance, or programmatic changes to strengthen protections for elders, including safeguards around lending practices, protections against exploitative asset transfers, and combatting scams targeting older residents.

The timeline sets a concrete deadline for a comprehensive report by end of 2026, shaping subsequent legislative consideration.

Bill