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Blagojevich administration partners with UAW leadership to offer
consumer protection training 
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[August 11, 2007]
SPRINGFIELD -- Representatives
of the Illinois Department of Financial and Professional Regulation
met July 24 with
leaders of the United Auto Workers retiree chapters from Illinois,
Wisconsin, Iowa and Minnesota to train them to help their members
deal with financial planning, health care quality and other consumer
issues.
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 In 2004, Gov. Rod R. Blagojevich created the state's first one-stop
consumer protection agency, to give Illinois families a place to go
for help with the professionals they rely on for financial advice,
for medical care and for the hundreds of other services that depend
on professional assistance. That agency, the Illinois Department of
Financial and Professional Regulation, regulates financial
institutions, real estate transactions, health care professionals
and all types of insurance."Financial planning for seniors on
fixed incomes can be particularly stressful. Every time the cost of
gasoline, electricity or health care rises, retirees feel the impact
immediately," said Dean Martinez, secretary of the Illinois
Department of Financial and Professional Regulation. "The leadership
team at the Region 4 Retirees Summer School will be able to warn
their members about the pitfalls seniors face when unscrupulous
salespeople or health care providers take advantage of retired
workers."
The program focuses on options available to seniors who need
additional income, either for themselves or their families. By
providing information and reference materials about reverse
mortgages, fixed and variable annuities, and other tools designed
for retirees, seniors can better protect themselves and their money.
"As leaders, we know that our members sometimes need a little
extra help when faced with a health care or financial crisis," said
Wayne Hungerford, UAW Region 4 retiree representative.
"Learning what state agencies can and can't do to help provides
our members with the information and resources they will need down
the road."
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 The program also covers the role of the Illinois Department of
Financial and Professional Regulation in making sure that Illinois
retirees get the best possible health care available. As the agency
that regulates medical and health care professionals as well as
oversees private health insurance programs, IDFPR offers senior
citizens a one-stop shop for checking the backgrounds of licensed
professionals and filing complaints if health care services fail to
meet expectations.
Finally, UAW leadership will hear about mortgage-flipping
schemes, short-term lending deals and other potential pitfalls
seniors can face while trying to make limited incomes stretch to
meet rising costs.
IDFPR recently uncovered a mortgage-flipping scheme that preyed
on retirees who owned their own homes but didn't have enough money
to maintain the properties. The workshop allowed UAW members to
learn about other options offered by state and local governments as
well as nonprofit agencies in communities across the state.
The meeting July 24 was part of an ongoing series of workshops
and seminars offered to senior organizations across the state. In
the past year, senior staff members of IDFPR have met with dozens of
senior organizations to address similar issues. Organization leaders
may call 1-800-280-4140 to request a workshop for their
organization.
UAW Region 4 hosts two annual summer schools at the Pat
Greathouse Education Center in Ottawa. The July session was for 140
retirees serving in leadership positions at their local chapters.
Region 4 has approximately 77,000 retired UAW members.
[Text from
Illinois
Department of Financial and Professional Regulation news
release received from
the
Illinois Office of
Communication and Information] |
