US consumer agency chief in Louisiana to discuss elder abuse

October 18, 2018

BATON ROUGE, La. (AP) — The leader of the nation’s consumer watchdog agency visited Louisiana to talk about efforts to prevent financial abuse and defrauding of the elderly.

Mick Mulvaney, acting director of the Consumer Financial Protection Bureau in the Trump administration, joined Louisiana Attorney General Jeff Landry at a town hall meeting Thursday in Baton Rouge. Other government officials and advocacy groups also participated.

The panel offered tips and suggestions to combat financial exploitation schemes and report such elder abuse to authorities.

Several audience members urged Mulvaney to retain tougher rules governing the payday lending industry they said would protect older consumers from taking out loans they cannot afford. The rules, finalized at the end of the Obama administration, are supposed to take effect next year.

Mulvaney wouldn’t commit to maintaining the regulations.