McCaskill Calls Out Financial Firms Abusing Veterans' Benefits
U.S. Senator Claire McCaskill is calling out big financial firms that are abusing military veterans' benefits through a practice coined "pension-poaching." McCaskill told a Senate panel yesterday that legislation is required to address the practice, in which financial institutions use loopholes to abuse programs that provide benefits to veterans. More than 200 financial service organizations across the country have begun marketing estate planning services to veterans in order to help them qualify for additional benefits-services which often involve the "restructuring" of the veteran's asssets in order for them to appear indigent. These firms then charge veterans exorbitant fees or permanently prevent them from accessing their assets.