Sink announces new task force
CFO Alex Sink has put together a task force to look into changes to annuities laws, with an eye toward safeguarding seniors from fraud.
Earlier this year, she had pushed for legislation, read about it here, that would have increased penalties on companies that coerce seniors into buying financial products that they don't need nor want. (Like annuities that cost thousands of dollars if you try to collect before 20 years is up.) She got some strengthened penalties, but she didn't get it deemed a felony. She blamed Met Life.
"I said I wasn’t gong to quit … and we’re coming back to stories like these about how their constituents are being impacted," Sink said.
The task force will look into fraud cases and suggest more legislative changes.