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CFPB age-friendly promotional toolkit for banks

Thank you for helping us spread the word about the CFPB’s resources for banks, including information about elder financial exploitation, Suspicious Activity Reports (SARs), age-friendly banking practices, and consumer education tools.

Instructions: Below you’ll find several pieces that you can insert into newsletters, blogs, email blasts, or social media to help get the word out about the Office for Older Americans’ resources for banks. If you use the content below, please indicate that it originated with the Consumer Financial Protection Bureau.

If you have any questions about how to use these materials, please contact the Office for Older Americans at olderamericans@cfpb.gov.

Sample email/newsletter post

Did you know that the Consumer Financial Protection Bureau’s (CFPB) Office for Older Americans offers resources that may help bank staff protect older customers from fraud and scams?

CFPB recently released an advisory that shares voluntary recommendations for financial institutions to help them prevent financial exploitation of older account holders with alerts to a trusted contact person. There is an accompanying handout for consumers that explores how designating a trusted contact can help account holders protect their money without giving up control over their finances.

CFPB also recently released a data spotlight analyzing trends in elder financial exploitation Suspicious Activity Reports (SARs) filed during the pandemic. Additionally, CFPB has a full-length report that contains an analysis of elder financial exploitation SARs , including monetary losses by customers and filers, and possible next steps for banks. Another resource is a review of state and federal laws related to reporting of elder financial exploitation by financial institutions to help clarify the laws and support banks in their efforts to combat fraud.

The CFPB also offers free tools banks can use to educate older customers. These include guides to help financial caregivers with managing someone else’s money, fraud prevention posters, activity sheets and other resources, and the Money Smart for Older Adults curriculum which your staff can volunteer to share with older customers and caregivers to help them make informed financial decisions and avoid scams.

To find these resources and more, visit consumerfinance.gov/olderamericans. Content provided by the CFPB.

Sample email/newsletter post

Title: Banks can use CFPB’s resources to help older customers

Did you know that the Consumer Financial Protection Bureau’s (CFPB) Office for Older Americans offers free resources that may be helpful for bank staff, including reports, advisories, and consumer education tools? You can use these materials to educate your staff and customers about elder financial exploitation.

Consumer education tools

  • Banks can make available CFPB’s Managing Someone Else’s Money guides to help financial caregivers understand their role as agent under a power of attorney, a guardian or conservator, trustee, Social Security representative payee or Veterans Affairs fiduciary.
  • Staff can volunteer to share the Money Smart for Older Adults program with older customers and caregivers to help them make informed financial decisions and protect against scams. The program includes an Instructor Guide, PowerPoint slides, and a take-home Resource Guide.
  • Staff can use CFPB’s fraud prevention posters, activity sheets, and other resources to help older customers and their families avoid common scams.
  • Banks can make available CFPB’s consumer advisory which features tips on how older adults can work together with their bank to prevent fraud.

Reports and advisories

Please share these resources with your colleagues, older customers, financial caregivers, and anyone else who could benefit. You can download the materials or order printed copies for free in English or Spanish.

To find these resources and more, visit consumerfinance.gov/olderamericans. Content provided by the CFPB.

Sample social posts

Twitter

  • Read CFPB’s new advisory with voluntary recommendations to help banks prevent financial exploitation of older account holders with alerts to a trusted contact person: go.usa.gov/xeEdN via @cfpb
  • Download or order CFPB’s free handout that explains how designating a trusted contact person can help consumers protect their money without giving up control over their finances: go.usa.gov/xeEdX via @cfpb
  • Read CFPB’s new data spotlight analyzing trends in Suspicious Activity Reports (SARs) filed during the pandemic that involve elder financial exploitation: go.usa.gov/xeXKu via @cfpb
  • Learn more about Suspicious Activity Reports involving #ElderFinancialExploitation. Read CFPB analysis: go.usa.gov/x6KJr via @cfpb
  • Looking for ways to help older customers avoid scams? CFPB has free resources bankers can use now: go.usa.gov/x6KJx via @cfpb
  • Check out CFPB resources to help bankers prevent #ElderFinancialExploitation: go.usa.gov/x6KJx via @cfpb
  • How can bankers respond to suspected #ElderFinancialExploitation? Find out: go.usa.gov/x6KJx via @cfpb
  • Want free educational materials about fraud and scams you can share with older customers? go.usa.gov/xetAC via @cfpb

Facebook or LinkedIn

  • Does your bank allow account holders to designate a trusted contact person who staff can alert in case of elder financial exploitation? Read CFPB’s new advisory with recommendations to help banks prevent financial exploitation of older account holders with alerts to a trusted contact person: go.usa.gov/xeEdN . You can also download or order CFPB’s free handout for consumers that explains how designating a trusted contact person can help customers protect their money without giving up control over their finances: go.usa.gov/xeEdX . To learn more, visit consumerfinance.gov/olderamericans. Post provided by CFPB.
  • Want to learn more about state and federal laws governing how you can report suspected elder financial exploitation? The Consumer Financial Protection Bureau (CFPB) offers resources for bankers. These include reports and advisories to help bank staff understand relevant laws and prevent elder fraud. To learn more, visit consumerfinance.gov/olderamericans. Post provided by CFPB.
  • Want to learn more about why you should file Suspicious Activity Reports (SARs) involving elder financial exploitation? The Consumer Financial Protection Bureau (CFPB) recently released a new data spotlight analyzing trends in SARs filed during the pandemic: go.usa.gov/xeXKu . Another CFPB report analyzes elder financial exploitation SARs, including monetary losses by customers and filers and possible next steps for banks. To learn more, visit consumerfinance.gov/sarsreport. Post provided by CFPB.
  • Looking for new ways to support your older customers? The Consumer Financial Protection Bureau (CFPB) offers resources for banks, including free educational materials. Help financial caregivers with managing someone else’s money, share fraud prevention posters and activity sheets, and schedule a scam prevention lesson using the Money Smart for Older Adults curriculum. To view and order free materials, visit consumerfinance.gov/olderamericans. Post provided by CFPB.