Once a thriving 89 year-old with $2 million in assets, Francis Taylor is now bankrupt. She owned only one credit card and had willed her assets to her church. That was before she hired Tyrone Dash to look after her finances.

Many sub-prime mortgages and high-interest loans later, Dash had crushed her nest egg by mortgaging her house, accessing her credit lines and by becoming her sole beneficiary.

Taylor’s story underscores a growing problem: the growing level of abuse and financial exploitation of older Americans. On Jan. 1, 2006, baby boomers began turning 60 at the rate of one every 7.5 seconds. At this rate, more than 11,000 people a day become potential victims for those who prey on the vulnerable.

In response to this growing problem, the Attorney General’s Office created the Vulnerable Adult Initiative in June of 2007. Representatives of financial institutions, victim advocates and members of law enforcement agencies came together to propose protections for seniors and those with disabilities. Based on their recommendations, we’ve introduced legislation to require employees of financial institutions to receive training to recognize and report financial exploitation, and strengthen their ability to “freeze” an account if thievery is suspected.

The bill also strengthens penalties for people who prey on vulnerable adults, and allows the public to have access to a database of information about those who have committed abuse.

We’re asking for the Legislature’s support of our work to ensure that susceptible members of our population get the protections they deserve.

Bellevue resident Rob McKenna is Washington State’s Attorney General. Sen. Dale Brandland, R-Bellingham and Rep. Barbara Bailey, R-Oak Harbor are sponsors of the vulnerable adult legislation.