The Consumer Financial Protection Bureau (Bureau) today issued an updated advisory to financial institutions urging them to report to the appropriate local, state and federal authorities whenever they suspect that an older adult is the target or victim of financial exploitation.
Press Availability with Acting Director Mick Mulvaney
Good morning. I would like to thank the Tampa community for hosting us so graciously and all of you for being here today. Since we established the Consumer Advisory Board (or CAB) five years ago, we have made sure that its membership spans the nation. We also make it a point to travel outside Washington, D.C. to learn more about consumers in different parts of the country. Yesterday we learned about this city’s history and visited a retirement community to hear more about the particular challenges facing constituencies such as older Americans.
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At the Consumer Financial Protection Bureau, we are working to make financial markets function better for this country’s 320 million consumers. Of special interest to us are the special needs and circumstances of older Americans. We are devoting great efforts to protecting them from financial exploitation, promoting their economic security, and educating both them and […]
One in Five Older Americans Report Being Victims of Financial Exploitation WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued an advisory and a report with recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans. Financial exploitation, the illegal or improper use […]
It is a pleasure to be back at the American Bankers Association. Before I begin, I would like to take a moment to congratulate Governor Keating for his dedication to the financial services industry, and for his long and distinguished record of public service. During my time at the Consumer Bureau, it has been my […]
