Elder Abuse-Financial Exploitation and Fraud
Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast
Legally Qualified: Protecting Against Elder Investment Fraud and Exploitation
How Should We Celebrate Elder Law Month?
On December 4, an Interagency Statement on Elder Financial Exploitation (the “Interagency Statement”) was issued by the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB),...more
The CFPB intends to issue a proposed rule to address the impact of credit reporting relating to accounts of survivors of domestic violence, elder abuse, and other forms of financial abuse....more
On December 9, the Consumer Financial Protection Bureau (CFPB or Bureau) announced the launch of a rulemaking process addressing credit reporting on survivors of domestic violence, elder abuse, and other forms of financial...more
On December 4, the CFPB, the FDIC, the Fed, FINCEN, the NCUA, the OCC and state financial regulators issued a statement titled the “Interagency Statement on Elder Financial Exploitation” to provide supervised financial...more
Earlier this week, the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National...more
Len and Dean discuss the alarming issue of elder abuse in their 78th and 79th podcasts. Dean expresses concern, especially since he has elderly parents, and highlights recent statistics from FinCEN and the FBI on elder...more
On June 14, 2024, President Biden declared June 15th World Elder Abuse Awareness Day. In honor of the day, the Financial Crimes Enforcement Network (FinCEN) reminded financial institutions (FIs) to remain vigilant in...more
The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation...more
Join Troutman Pepper Partners Chris Willis, Mary Zinsner, and Dave Gettings for an in-depth discussion about litigating elder financial exploitation cases. Elder abuse and financial exploitation of the elderly are increasing...more
It’s sometimes said that growing older is a privilege. Even so, aging can cause concerns about health issues, financial security, and family relationships. Every year it is reported that family members or “friends” with...more
In a JD Supra exclusive, Jones shared his passion for preventing the financial exploitation of seniors and vulnerable adults and what investors and their financial advisors can do to prevent it. ...more
Join Ulmer partners Michael N. Ungar and Daniela Paez as they discuss the current regulatory landscape as well as the litigation trends and risks surrounding elder financial abuse and exploitation. They will also share an...more
In 2019, I wrote about a then pending proposal, SB 496 (Moorlach), to add broker-dealers and investment advisers to the category of mandated reporters of known or suspected financial abuse of elders or dependent adults. ...more
In 2021, Michigan passed the Financial Exploitation Prevention Act (FEPA or Act) which took effect last September. FEPA sets forth new requirements on financial institutions to report financial exploitation of vulnerable...more
The CFPB has issued an update to its 2016 advisory that contained recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans....more
The California Elder Abuse and Dependent Adult Civil Protection Act mandates reporting of suspected financial abuse of an elder or dependent adult. Cal. Welf. & Inst. Code § 15630.1. Under the act, a "mandated reporter of...more
The CFPB’s Office of Financial Protection for Older Americans has issued a new report on combating elder abuse. ...more
The securities industry’s concern over the aging of the U.S. population, specifically, aging investors, has, apparently, reached a fever pitch. On February 5th in New York, SIFMA hosted its “Senior Investor Protection...more
On October 18, 2018, the CFPB will hold a town hall in Baton Rouge, Louisiana on preventing elder financial exploitation. ...more
The Senior Safe Act (12 U.S.C. § 3423) took effect May 24. The Act “extends immunity from liability to certain individuals employed at financial institutions who, in good faith and with reasonable care, disclose the suspected...more
The U.S. Department of Justice (DOJ) earlier this week announced that it was disbanding the Financial Fraud Enforcement Task Force, established under the Obama Administration. ...more
Many publications report on the prevalence of elder financial abuse in our society. It can arise from misuse of powers of attorney, guardianships, and estate and trust administrations, as well as out and out scams. Many...more
We previously talked about recent changes to Oregon law and FINRA rules relating to elder abuse prevention and the prosecution of financial services companies for noncompliance . This article focuses on The Elder Abuse...more
Similar to the Oregon legislature's recent changes to ORS Chapter 59, intended to protect "vulnerable persons" against financial exploitation, FINRA has implemented changes to its rules effective February 5, 2018, intended to...more
A pair of FINRA Rule revisions designed to protect seniors from financial exploitation become effective February 5. The Rules require member firms to obtain “Trusted Contact Person” information and impose short...more