WASHINGTON, Feb. 24, 2025 /PRNewswire/ — Janine Williamson, the administrator of the Larry W. Cook Estate, announced today several key milestones in her advocacy efforts against the financial exploitation of elderly people.
Williamson recently met with top officials at the American Bankers Association, the 150-year old trade association for the U.S. banking industry, to discuss how to best keep our seniors safe from financial exploitation. That meeting comes on the heels of features highlighting her work published in December by Bloomberg — “As Elder Fraud Explodes, Banks Beat Back Duty to Call Cops” — and in November by American Banker.
“The American Bankers Association and its CEO Rob Nichols care deeply about the explosion of financial fraud here in the US and in global banking systems,” said Williamson. “We need a government-appointed Fraud Task Force. The Task Force duties could include disrupting the criminals, their fraud schemes, and the channels they use to communicate; disruption of the mechanisms used to obtain and launder stolen proceeds; and finally, direct help for the victims.”
Williamson has been advocating nationwide for legislation like Virginia HB 692 — “Larry’s Law.” Named in honor of the late Larry Cook of Herndon, Va., a retired Navy commander who lost millions of dollars in a phishing scam in the final months of his life, the law lays the groundwork for financial institutions to train their employees to identify potential financial exploitation of senior citizens, report it to the authorities, and notify a senior’s trusted contacts of such exploitation. Williamson testified in front of a Virginia Senate committee before Larry’s Law was brought to a vote.
As his niece and the administrator of his estate, she also filed an appeal with the U.S. Court of Appeals for the Fourth Circuit regarding her $3.6 million negligence lawsuit against Wells Fargo and Navy Federal Credit Union on behalf of the estate of her late uncle. Oral arguments for the appeal are scheduled for March 20.
Williamson has taken her advocacy battle to the U.S. Capitol, lobbying Senators Elizabeth Warren, D-Mass., Richard Blumenthal, D-Conn., Tim Kaine, D-Va., and Mark R. Warner, D-Va., as well as Representative Don Beyer, D-Va., for stronger federal policy to safeguard Americans from predatory financial scams.
“Not one fraudulently stolen dollar should go to criminals. We must preserve organizations like the Consumer Financial Protection Bureau that hold corporations accountable and protect consumers from excessive fees, fraud, and discriminatory lending. Until banking is safe, The Larry W. Cook estate will keep fighting,” said Williamson.
Cook’s story and Williamson’s $3.6 million negligence lawsuit have been profiled in USA Today, Yahoo! News, NBC Washington, CBS Seattle, Law.com, and more. Williamson and her family launched a website to educate lawmakers, reporters, and the public about elder financial exploitation and policy changes that can protect seniors. To learn more, visit www.larryslaw.org.
MEDIA CONTACT:
Cooper Rumrill
(202) 980-4968
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SOURCE Larry W. Cook Estate
