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Mass. legislators file bill to create interagency financial‑scams task force
Summary
A bill filed Jan. 17, 2025 would create a 21‑member interagency task force to review and recommend state actions on financial scams, with a report due to the Legislature within one year of the act's implementation.
State legislators filed a bill Jan. 17, 2025, to establish an interagency task force charged with reviewing and investigating financial scams across the Commonwealth of Massachusetts. The filing appears as Senate No. 749 in docket 2440.
The bill, presented by Paul R. Feeney and petitioned by Marcus S. Vaughn and Brian M. Ashe, would create a 21‑member task force composed of legislative appointees and state and stakeholder designees. The text requires three members appointed by the senate president (one to serve as co‑chair), three appointed by the speaker of the House (one to serve as co‑chair), one appointment each by the senate and house minority leaders, and a mix of executive branch officials, regulatory heads, and industry and advocacy representatives, including the attorney general (or designee), the secretary of state (or designee), the state treasurer (or designee), the commissioner of the Division of Banks (or designee), the president of the Massachusetts Bankers Association (or designee), the president of the Cooperative Credit Union Association (or designee), the executive director of MASSPIRG (or designee), the state director of AARP Massachusetts (or designee), and the commissioner of MassAbility (or designee).
Under the bill the task force's duties would include gathering information on known scam types; identifying sources and data gaps; recommending ways to reduce risk to vulnerable populations; proposing public‑education strategies; evaluating existing legal relief and state authority; and recommending additional tools or resources for law enforcement and state agencies to identify, track and respond to scams. The task force must file a report of findings and draft legislation with the clerks of the Senate and House and the chairs of the Joint Committee on Financial Services not later than one year after the act's implementation date.
The filing itself is a legislative proposal and does not indicate final approval or funding for the task force. Next steps for the bill would include referral to the Joint Committee on Financial Services for study and potential hearings before any enactment.
Background details in the bill specify a 21‑member composition and list ten discrete duties for the task force, reflecting an emphasis on interagency coordination, data collection, public education and potential legislative changes to provide relief or enforcement tools.
