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AARP Colorado: Support ASSET Act to Stop Scams

ASSET Act Stops Scams

AARP

Published February 06, 2026

Illustration representing financial strain

Denver, Colorado – AARP Colorado supports recently announced legislation, HB-26 1110, also known as the Adults’ Security and Safeguards from Exploitation in Transactions (ASSET) Act.

Sponsored by Representatives Sean Camacho and Jamie Jackson and Senators Marc Catlin and Jessie Danielson, the ASSET ACT provides banking and credit union staff with legal and liability protections to delay and halt potential fraudulent transactions and prevent financial exploitation before it occurs. Colorado’s financial advisors have similar protections already in place.

Statement from AARP Colorado State Director Sara Schueneman:

“Our state’s banking and credit union professionals are on the frontlines when it comes to financial exploitation of older adults, and they should be empowered to hold a potentially fraudulent transaction. Once a fraudulent transaction goes through, the road to both financial and emotional recovery is difficult. By extending protections to banking and credit union staff to hold potentially fraudulent transactions, a practice already in place for licensed securities professionals, older Coloradans will be spared much time, money, and heartache. Lastly, the legislation sets expectations that disputed transactions are addressed in a timely manner, ensuring appropriate access to funds if no wrongdoing has occurred. We urge the legislature to support and pass this critical legislation.”

Statement from AARP ElderWatch Program Manager Mark Fetterhoff:

"AARP ElderWatch regularly receives calls from older Coloradans and their loved ones who are reporting substantial losses as part of a financial fraud. A hold provision to protect the hard-earned money of older Coloradans could significantly help to reduce money lost by Colorado's most vulnerable."