Former Minnesota attorney general Hubert "Skip" Humphrey III has been hired to head up the newly-established Office of Older Americans at the Consumer Financial Protection Bureau.
The office will help seniors facing financial choices in areas such as long-term savings, retirement planning and long-term care, as well as identifying and preventing scams targeting the elderly.
Humphrey, who was Minnesota AG from 1983 to 1999, also served as a state senator, president of the Minnesota AARP and, until recently, as a member of AARP’s national board. He’s the son of the late Vice President Hubert Humphrey.
Rep. Barney Frank (D-Mass.) who co-authored the Dodd-Frank Act that created the CFPB, said in a statement that Humphrey’s selection “continues a pattern of excellent choices by this important agency. I am especially pleased to note the addition of another former attorney general to the top ranks of the agency because attorneys general have been at the forefront of consumer protection.”
Humphrey said in a statement that “I am honored and excited to bring my experience in consumer protection and my work with seniors to the CFPB to help educate seniors about fair practices and how to make financial decisions that are right for them.”
Humphrey continued, “A well informed consumer is the best protection against fraud and deceptive practices—especially if that knowledge is backed up by tough regulatory enforcement.”