Consumer Confidential: Banks should do more to protect seniors from 'grandparent scam'

It's time for businesses to stop wringing their hands over the aggressiveness and cleverness of scammers, and to be much more assertive in protecting people from fraud - especially seniors.

I say this after speaking with Montrose, Calif., resident Sal Macaione, 79, who fell victim the other day to what's known as the "grandparent scam." If you're unfamiliar with this particularly ugly racket, I'll run down the details in a moment.

What really sizzled my bacon here is Macaione's bank - Banc of California - being little more than a bystander as the fraud unfolded.

What I mean by that is when Macaione showed up at the Pasadena branch