The Consumer Financial Protection Bureau issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that … more CFPB Updates Recommendations For Reporting Elder Abuse
Combating Elder Abuse
CFPB: Less Than One Percent of SARs Involve Reverse Mortgages
Officials from the Consumer Financial Protection Bureau’s Office of Older Americans reported that less than one percent of all Suspicious Activity Reports (SARs) reviewed by the CFPB from … more CFPB: Less Than One Percent of SARs Involve Reverse Mortgages
CFPB: 36 Percent of Elder Financial Scams Committed by Family and Friends
While 51 percent of financial elder abuse cases involve strangers, approximately 36 percent are committed by people the victim knows and the average loss tends to be higher … more CFPB: 36 Percent of Elder Financial Scams Committed by Family and Friends
Recognize & Report Elder Financial Abuse
A new consumer brochure from the National Reverse Mortgage Lenders Association helps seniors and their loved ones recognize common scams and signs of financial exploitation. The free resource … more Recognize & Report Elder Financial Abuse
Senior Scam Book Unveiled By Senate Aging Committee
The Senate Special Committee on Aging released its 2018 Fraud Book at a public hearing this week detailing the Top 10 scams reported to the committee’s Fraud Hotline … more Senior Scam Book Unveiled By Senate Aging Committee
New FINRA Rules to Prevent Exploitation of Seniors
In response to the growing number of aging investors approaching retirement or already in retirement, new rules adopted by the U.S. Securities and Exchange Commission require broker/dealers to … more New FINRA Rules to Prevent Exploitation of Seniors