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Category: Data, research, and reports |
Published

Financial institutions report widespread elder financial abuse

The Bureau released a report about key facts, trends, and patterns revealed in Suspicious Activity Reports—or SARs—filed by banks, credit unions, casinos, and other financial services providers from 2013-2017. This first-ever public analysis provides a chance to better understand elder fraud and to find ways to improve prevention and response.

Category: Data, research, and reports |
Published

Older Americans are not alone in the fight to stop financial abuse

Banks and credit unions are in a unique position to prevent financial exploitation of older Americans and to intervene effectively when older account holders are targeted or victimized. That is why today we are releasing an advisory and report for banks and credit unions on how they can better protect older consumers from financial abuse.

Category: Info for consumers |
Published

Planning for financial decisions as you age

Here at the CFPB, we worked with our federal partners at the Securities and Exchange Commission to create a Consumer Advisory and Investor Bulletin on planning for the future, when you may not be able to manage your money and property. This is often referred to as diminished capacity. The advisory has advice on planning for your financial future, getting your documents in order, and watching out for financial exploitation.