Illinois seniors fall victim to financial scams

February 16, 2012 3:04:31 PM PST
Financial fraud targeting seniors is a growing problem, according to Illinois Attorney General Lisa Madigan

Madigan met with local organizations representing seniors Thursday afternoon. Skip Humphrey heads the new Consumer Financial Protection Bureau's Office of older Americans. Madigan says her office is getting more and more consumer complaints about reverse mortgages.

"We're very concerned and we will continue to bring lawsuits, we will continue to mediate complaints and we will continue I think most importantly educate seniors on that issue," Madigan said.

Humphrey says at the request of Congress his agency is doing a bureau-wide review of the issue of reverse mortgages. He says that information will be shared with law enforcement agencies around the country.