« Agencies Announce Intent to Rescind 2023 CRA Final Rule | Main | What's New? NJ Minimum Wage Increase »
Thursday
Dec052024

What's New? Elder Financial Exploitation

On December 5, 2024, The Board of Governors of the Federal Reserve System (Board), Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, state financial regulators, and the Financial Crime Enforcement Network (collectively, the agencies) issued a statement to financial institutions supervised by the agencies for the purpose of raising awareness and providing strategies for combatting elder financial exploitation. Elder financial exploitation is the illegal use of an older adult’s funds or other resources for the benefit of an unauthorized recipient. Click here to read The Interagency Statement on Elder Financial Exploitation. Read more about Elder Financial Exploitation and  Accounts of Incompetent Depositors in The Gold Book

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>