and howard coble introduced h.r. 3040. it was introduced primarily to address the need to educate and inform the public of the predatory practices unscrupulous individuals who prey upon the vulnerabilities of our elders. ours is an aging society. at one time, the elderly population with a small, and now it is significant and growing. adults aged 60 or over represent 6% of the u.s. population in 1990, and now represent over 17%. the number will continue to climb as the baby boom generation ages. this whole segment of our population owns the largest portion of the wealth in the united states. they could show at least 70% of the net worth of the nation's households, -- control at least 70% of the net worth of the nation's households and often do not realize that the net value of their homes has appreciated significantly. they are inviting targets for those who would seek to defraud them of assets and future security and their life savings. it has been difficult to estimate the prevalence of elder fraud. cases are under report