Learn what the Bureau is doing to prevent elder financial exploitation in communities across the country.
We are alerting people of a lottery scam using a CFPB employee’s name. We also have tips to help you avoid falling victim to imposter scams.
We released several new resources to help older homeowners decide whether to borrow a reverse mortgage.
OIder borrowers across the United States are increasingly affected by student loan debt, according to our research.
Over ten thousand people turn 62 every day, and with a majority of them homeowners, a growing number of businesses are increasingly using the phrase “aging in place” to market financial products and services to homeowners in the baby boom generation. Many of these businesses and lenders, however, are incorrectly implying that staying in your current home is the only option for aging in place, which isn’t always the best option for everyone.
Research and resources to help communities, volunteers and others in the fight against elder financial exploitation.
The May 2017 Monthly Complaint Report summarizes the complaints submitted by people age 62 and older. The report highlights issues that older consumers are more likely to experience than their younger counterparts, including issues with traditional and reverse mortgages, credit cards, and bank accounts and services.
Most people don’t know how much their Social Security benefit will be, nor how the age at which they begin claiming their benefits will affect the amount.
Under the Qualified Medicare Beneficiaries (QMB) program, medical providers such as doctors, hospitals, and medical supply
companies aren’t allowed to bill enrollees for Medicare deductibles,
coinsurance, and copayments. If you get a wrongful bill, you don’t have to pay it. You have the right to a refund if you’ve already paid.
As the number of older Americans with student debt has quadrupled, older borrowers complain about many problems with lenders, loan servicers, and debt collectors that exacerbate their financial challenges.