NWX-CFPB HQ Moderator: Heather Brown January 28, 2019 3:04 pm CT Coordinator: Welcome and thank you for standing by. At this time all participants are in a listen-only mode. During the question-and-answer session please press Star 1 on your touchtone phone if you’d like to ask a question. Today’s conference is being recorded. If you have any objections you may disconnect at this time. I’m turning over to Miss Heather Brown. Ma’am you may begin. Heather Brown: Thank you so much operator. Welcome everybody. We’re so glad you were able to make it. And I wanted to take a moment first to introduce our two speakers to you. And then I’m going to go through our slides that, you know, our normal (first few) slide for those of you that know them that kind of gives us our disclaimer. But we’re very excited today to have Erin Scheithe with us. She is the Content Specialist in the Office of Financial Protection for Older Americans at the Bureau of Consumer Financial Protection. The majority of her career has been spent in the field of financial education. She’s developed programs to teach children and parents the basics of financial literacy as well as resources on financial security issues for the 50 plus population. She obtained a Bachelor’s Degree in English and a Master’s Degree in Educational Psychology from the University of Virginia. So we will welcome (Erin) and she will be our first speaker once I go through the introductory slides. And then I’d also like to introduce Patrick Campbell. Patrick Campbell works as an Acting Assistant Director for the Office of Servicemember Affairs at our bureau. Patrick has been with the bureau since 2012 and prior to that he was the Chief Legislative Counsel for Iraq and Afghanistan Veterans of America. He’s one of the country’s leading experts on the post 911 G.I. Bill and he was a key architect of that program back in 2008. Sergeant Campbell was also a combat medic serving with the D.C. National Guard. And he served in Iraq with the 256th infantry regularly patrolling Baghdad. So we welcome you Patrick as well and thank you for your service as well. And so for everyone we’re going to get started going to get started with our slides. Let me advance here. So we have to go through this disclaimer. The presentation is being made the Bureau of Consumer Financial Protection representatives on behalf of the bureau. It does not constitute legal interpretation, guidance or advice of the Bureau of Consumer Financial Protection. And the opinion or views stated by the presenters are the presenter’s own and may not represent bureau views. The Bureau of Consumer Financial Protection regulates the offering and provision of consumer financial products and services under the federal consumer financial laws and educates and empowers consumers to make better informed decisions. This program is being - this webinar is being sponsored by our financial education exchange or FinEx. Today we’re at 3,480 members. And we do a variety of things for the adult education population and you can visit our Web site and we’re going to have those - the links for those later on. Also everyone that’s on this call will receive a copy of the slides if you gave your email when you logged in and a copy of the recording will be posted. If you did not give your email or you do want slides, you can email the email address at the bottom of this slide. And if you happen not to already be a FinEx member, perhaps somebody forwarded you this email for you to watch - you can also sign up to be a member by emailing that email address cfpb_finex@cfpb.gov at the bottom. Okay so my name is Heather Brown and I’m facilitating the call for our excellent, outstanding speakers. And you may have been familiar with Irene Skricki and she was the person that brought me and trained me for this role and she’s still involved. She hasn’t gone anywhere. She’s moving up to do bigger and better things. But I just want to make you’re aware of that for those of you that may have expected to hear her here today. At that I’m going to get prepared to hand it over to (Erin Scheithe). I’ll just give her control of my slides and we’ll be off and running. Also for attendees if you want to ask questions during the presentation, you can certainly ask questions in our Q&A section. And when we have a break in time or if there’s an opportunity, I will respond to those questions. If we can’t do it during the presentation we will try to get to as many questions as we can at the end. And we’ll also open up the lines at the end of both presentations for questions and answers. Okay (Erin) it’s all yours, thank you. (Erin Scheithe): Thank you so much Heather. So excited to be here. This is my second FinEx webinar and really enjoy speaking with this group of people because I was once one of you. As Heather mentioned I’ve spent a lot of my career all but about three years as a financial educator. So really excited to be here and thank you so much for having me. As Heather mentioned I am from the Bureau’s Office of Financial Protection for Older Americans. And what we do is develop resources to help protect older consumers from financial harm and to help older consumers make sound financial decision as they age. And we also do quite a bit of research to determine what the best resources we can develop would be that would serve the older adults in the country in the best way. The first thing that I wanted to mention to you is our Money Smart for Older Adults Program. If you are a financial educator you’re most likely already familiar with the FDICs suite of Money Smart financial education tools. So Money Smart for older adults is one that we paired with the FDIC to create. It is an awareness program and we really focus Money Smart for older adults on scam and fraud prevention. So the majority of the resources are going to be about how to identify, how to identify different kinds of scams and fraud and other forms of exploitation. And there’s information about how to report that as well in the Money Smart curriculum. It is an instructor led curriculum. But I always want to say that anyone can be an instructor of Money Smart because our instructor guide is so thought out and soup to nuts. It has all of the information including presentation tips. I’d even suggest that you get a microphone for example because a lot of older adults have issues with hearing loss. And so it literally gives you tips and tricks as well as really, really solid contents and it’s all free. The instructor guide is available through the FDIC’s Web site. So fdic.gov/moneysmart. And the resource guides which I would recommend everyone here go online and at least order one copy of the resource guide. It’s basically a glossary of all different kinds of scams and fraud from IRS scams to telephone scams, lottery scams, and scams affecting veterans as well as home contractor scams. The list goes on and on and on. And so I would recommend going to our Web site - consumerfinance.gov/moneysmart. And you’ll be able to see the resources there and order copies for free. You don’t even have to pay for shipping. This is all a service of the bureau because we are a federal agency. So definitely take advantage of that. The content was updated in March of 2017. And then we just updated the content in Spanish as well. And so the Spanish resources are all available including power point slides both in English and in Spanish, the instructor guide in English and Spanish and the resource guide in English and Spanish. So definitely check that out. Next slide. The next resource that I want to make everyone aware of is our Managing Someone Else’s Money Guide. I don’t know how many of you have either coached someone in a financial capacity or maybe you have been focused on adults in that kind of sandwich generation where they still have kids at home yet they’re also caring for aging parents. Those of you who may have clients who have disabilities who may not be able to manage their own money and may have to have help from a friend or family member. The Managing Someone Else’s Money Guides are really great for those financial caregivers. We have four different guides for the four common types of financial caregivers - agents under power of attorney, guardians, trustees and then government representative payees, like, social security rep payee for Department of Veterans Affairs representative payee. So those are really great guides for the maybe adult child or parent of a disabled child who oh my gosh either my child’s 18 or, you know, my aging parent has gotten to a point where they don’t feel comfortable handling their finances themselves and we’re now under a power of attorney. So it really gives great advice for the caregiver. And includes information on protecting assets from fraud and scams as well. And it is available in English and in Spanish. And we also have it available in six different states. So we chose six states that have a high population of older adults and we created guides that are a little bit more tailored to the laws and the resources that exist in those states. So if you are one of those states and you’ll find all the information on our Web site, definitely check those out. But the national guides are fantastic for those who do not have a particular state guide. And you can go to our Web site again consumerfinance.gov/msem. So it’s short for managing someone else’s money and you’ll find it there. It’s also listed as a consumer tool if you are scrolling across our Web site on that top navigation bar. Those are also available for ordering four free. You can also download them. You can order one copy or you can order 500 to keep on lit racks at your maybe - the location where you are. And they’re often really great to have at lit racks, at financial institutions, banks or credit unions, legal services as well. So great resource there. Next I’ll mention that we at the Office for Older Americans have really studied community networks that benefit older adults in the following ways. They pull together law enforcement, adult protective services, banks and credit unions. They pull together legal services, area agencies on aging, other different groups that serve the senior community. We bring all those folks together in the same room in a location. We’ve been to Florida. We’ve been to Oregon, Montana, Kentucky, and Oklahoma. So we go all across the country. And we bring these people together to talk about how much better a job we can do at supporting older adults as they protect themselves from fraud, scams and other kinds of financial exploitation. And then we help them sustain those networks that they’ve created. So we do have a report that is based around a study that we did. And then we do these convenings every once in a while. So I encourage you to go to the Web site that’s listed on the slide and check out our community network’s project. We might be coming to your community soon or if you have a particular interest in this area, my information will be later in the presentation and you are extremely welcome to email me and let me know if there’s a community that you’d like for us to come to next. And beyond that we also do research. And what’s exciting about the work that we do is it’s really focused on or grounded in human centered design or human centered research. So for example I as a content specialist write quite a few of our materials or at least I have an editing hand in many of them. And so I am always very excited to take what we have created and test it with real users. So we go to different senior centers around the D.C. area to see if our materials are really hitting the mark. And they often do but sometimes we make some adjustments to them to make them a little bit easier for older adults to interact with. And so that’s one area of our research. We’re also really focused on retirement obviously since we’re dealing with the older segment of the population. And we’re engaged in the financial wellbeing of older adults - research on that. And I can kind of teethe out to this group that on or shortly after December 13 the Office for Older Americans will be publishing a report on the financial wellbeing of older adults. If you’re part of the FinEx network, you have likely heard a lot about financial wellbeing. So I won’t go into it too much here. But I will mention that we have taken the data that we received from that pretty extensive study and sliced and diced it to make sure that we have our finger on the pulse of what’s happening with older adults. And I believe that our servicemembers often test on the same thing. So expect kind of more streamlined reports on a little bit of a targeted population from us. As I mentioned December 13th is when we plan to release that report. We’re also engaged in work around the financial resiliency of surviving spouses and partners. And I’m leading that research project. And so I’d like to put out and ask here if any of you on this call work with older adults who have recently lost a spouse and perhaps that spouse was the one who handled the family finances. I’d love to talk to you because we’re working on this project and there are implications for military spouses. There are implications for spouses who perhaps didn’t have the same level of income as their deceased partner. So there are so many different groups we can help and so many unique experiences in this. And so I have a lot of passion around this subject. Would love to hear from you. And this next slide just mentions a little bit about the financial wellbeing research that we’ve done. But we do have the rigorously tested financial wellbeing scale as well as the national study. And as I mentioned we will be releasing that report on older adults in the next few weeks. And spoiler alert older adults are on average a little bit better off and score a little bit higher on that financial wellbeing scale. So I think that’s something you might expect but we’ll of course have a lot more detail in the report. Another resource that is completely free for you to order and we’ve found has been really, really popular kind of exceeded our expectations is our Consumer Protection Placemat Program. We originally partnered with meal service providers around the country. And, you know, kind of got together and said wow this is an opportunity for us to reach a lot of seniors at one time with some really simple basic financial information mostly around how to prevent scams and fraud that are common. And these geniuses - it wasn’t me or else I would own up to it. I wish it was me. But one of my colleagues said hey let’s put some information on a placemat. A plain, simple placemat. And this has been our runaway success project. So actually just over 2 million of these placemats have been ordered in about three years since the program began 3 1/2 years ago. We have 10 available in English, 5 in Spanish and they are ordered not just by mail site but by banks and credit unions, by native communities, area agencies on aging, libraries, financial educators - no counties and other groups. So I really encourage you to check these out. As I mentioned they are free. And part of the reason why we’re speaking on this webinar to you today is because Patrick’s office and mine came together for an aid and attendance benefit scam placemat. And so this is one really targeted to veterans who are vulnerable. They may be those veterans or their surviving spouses. They may be homebound. Maybe they have other disabilities or limitations. And people are taking advantage of these folks by either offering to get benefits more quickly for people or perhaps telling them they are eligible for this benefit when they are not. And so we wanted to put out the word that these scams are happening and what you can do to apply safely for this benefit. So if you do educate veterans this might be a good thing to have in your quiver of financial educational materials. The Office for Older Americans also we’ve come up with quite a few consumer advisories each year. And I’m not going to read all of these to you. There are many different consumer advisories that we have come up with everything from medical debt to debt collection. You see them there. Reverse mortgages are always popular too. So if you’re hunting around on our Web site, take a look at these. They’re usually one or at most four paged documents that you can either printout. Many of them are available from our GPO Pueblo site as well as so you can even get some copies sent over to you. And they are quick ways to address some of these different topics. And then we have a little bit more formal guides on reverse mortgages, financial advisors and how to know whether a financial advisor is right for an older American audience. And then another guide around pension lump sum offers. Again kind of not necessarily fraudulent but not necessarily something you want to go into with your blinders on. So something that can help the people who you serve or educate go into their financial products with a little bit more of an understanding of the ramifications of their decision. So the guide’s list important questions to ask and then many times mention specific steps that you can take for help. We also have an online tool around retirement which is great to share with those of your clients or those who are educating who have not yet claimed their social security benefit. This is one we created with the Social Security Administration with their support I should say. We actually use one of their calculators as the backbone for this online tool. And it’s an easy to use tool. You basically type in your birthdate, the amount of income that was the highest. In fact I encourage all of you to do it as well. And then you kind of walk through the different scenarios of claiming social security retirement benefits at 62 the earliest age of eligibility, at full retirement age or delaying beyond for an increase in your monthly benefit amount for life. So it’s available in English and Spanish. And I think for those of you who might be working who are in their 40s or 50s who are starting to think about this decision of starting to panic about retirement because I mean who can honestly say they have enough saved. I’d love to meet that person and shake their hand. But it’s a really great tool to help you learn the different amounts that you’ll get each month based on the age that you claim. So it might encourage some people to claim later than they had initially thought. And then I included here at the end a link to our Web site. If you visit us there you’ll be able to see the different things that I’ve mentioned. You can also join our mailing list. This is a great thing to do because you’ll receive emails, like, the one we sent out on November 8 that said hey our aid and attendance benefit scam placemat is available for order. We’ll be releasing that financial wellbeing in older adult’s report on or around the 13th. So you’ll get notification of that as well. You can also order our materials in bulk on our Web site. And you can contact us at olderamericans@cfpb.gov. And I believe that Patrick and I included - well Patrick included his email address at the end of our slides. I’m happy to share mine as well. If you have any questions feel free to send those our way and that concludes my portion and I will pass the ball over to Patrick. Patrick Campbell: Thank you (Erin). And just one more pitch for that social security tool. My father is of the age in which he is deciding when he will use his social security tool. And over Thanksgiving we actually - I actually pulled out my phone and in a matter of five minutes of bringing it up I was able to help him make I think a very important life decision. And so I think for a lot of you who work with people, like, this isn’t just about educating them about a particular topic. It’s about being able to kind of show people and let them play and explore. And so I think the social security tool is a very helpful tool to help, you know, show someone else what you’re trying to explain to them which is the longer you wait the more likely your benefits are going to stretch. And so I definitely encourage everyone to definitely take a look at it. Well good afternoon and for those people on the West Coast good morning. My name is Patrick Campbell. I head the bureau’s Office of Service Member Affairs. We are, you know, within the bureau we have a charge to do three things. One, the first thing is to educate and empower service members and their families to make smarter choices about financial products. The second one is to monitor and analyze complaints from the military community. And the third is to coordinate consumer protection efforts between both the bureau and other federal and state and local agencies. You know just a little bit of background. I’m not sure if you deal with a lot of veterans or service members, like, the civilian population service members and their families depend on financial products to, you know, pay for college, to help pay for starting a family, to buy a house. There are some interesting quirks about how service members and their families use financial products. For instance 91% of service members have a credit card. That’s about 15% more than civilians and about 1/3 of service members have four or more credit cards. Nearly 2/3 of service members have an auto loan or a lease. Over 200,000 service members have student loans totaling about $2.9 billion. And so these financial products, these are, you know, the same products that everyone relies on. The problem is that because of frequent moves and the stresses of deployments and going down range, when, you know, these things go wrong they get amplified significantly. So for instance I was in law school when I got deployed to Iraq. And while I was there my student loans got put into collections for no fault of my own. It was just a mistake in the paperwork. And then spent my two-week leave and pretty much the first six months I was back trying to figure out what had happened and kind of get the paperwork back in the way that they should have been. And as you can imagine getting back from a warzone and all the things that are associated with that the stress of getting debt collector calls every day. They actually started on my birthday twice a day for six months just compounded the other issues that I was already trying to deal with when I came home. So we have seen that, you know, not only does that put a significant stress on the servicemember and their families but, you know, at some point they actually get amplified to the point where they can cause someone to lose their security clearance. And we have seen anywhere from 4,000 to 8,000 service members a year get kicked out of the military due to financial issues. And for what it’s worth that, you know, not only are we losing potentially good servicemembers it costs the government almost $450 million a year to train and replace those people. So that is the tactical environment that we operate. You know we have lots of resources available for service members and practitioners, like, yourself. About a year ago we sat down and we said, you know, one of the things, you know, we have a lot of great resources throughout the bureau. But it’s not always the easiest to find. So we basically charted what we call the lifecycle of the military consumer. Different stages in which service members or veterans might be in their careers. And what resources that we had available at the bureau and other agencies that would, you know, be most helpful for people. So for example, like, you know, at the beginning of the lifecycle of someone showing the military being shipped off to, you know, basic training, you know, before you show up you need to have, you know, I think they tell you three things you need to have. You need to have running shoes, a toothbrush and a bank account. Everything else the army’s going to get you. But, you know, so how does someone choose a bank account. When they get to their first duty station, you know, what do they need to know about buying a car. When they get, you know, a little bit farther along and they say hey, you know, maybe I want to get a higher education. Maybe I want to, you know, do something a little more than what I’m doing. We give people, you know, who have student loans what are your options. We see a lot of service members showing up taking out student loans while they’re in the service. You know what are your rights and privileges. And then you have people who are getting out of the military who have, you know, who are trying to go to school under the G.I. Bill or they’re trying to get disability benefits, you know, all the way to the point where they’re retiring. So at each stage of these - for this lifecycle we have different resources. And the good news is if you go - if you don’t remember anything else I say today pretty much everything that I’m about to talk about can be found from here. So if you click on here then you can either download it in one big PDF. It’ll have, like, three pages with all of it. Or you can go to each of the individual tools itself. You know one of the things that, you know, we have done over the years is not only to educate people but also to help return money that service members were owed. And so right now, you know, if you go to our service member page you actually see that, you know, we’ve helped return over $200 million to service members and their families. Actually we haven’t updated the page. Actually it should say $1.2 billion and counting. And this is, you know, just counting practices that we’ve helped make referrals to enforcement and other agencies. We’ll talk a little bit about that. We have educational brochures, like, our friends and older Americans. We have a lot of great publications that can be downloaded for free. Two of the most popular are here - What Are My Rights Under the Military Lending Act. So Congress passed something I think it was in 2008 that said that lenders cannot charge more than 36% interest on products that are on loan to service members and their families. They also put it in a number of other protections for service members. This is a really great benefit. Not a lot of people know what it means and what it is. So we have a great publication to say, you know, here are your rights under the Military Lending Act. There’s also something called the Service Members Relief Act. It was originally passed during World War II when lots of people were being shipped off, being drafted and shipped off to war. And basically says that if you’re getting activated and being, you know, basically sent, you know, to active duty, that there are protections for you. Any pre-service debt is limited at 6%, you know, essentially you can’t be foreclosed on or have other kind of negative actions happen to you while you’re on active duty. So here are two really great resources. We are I think at this exact moment about to order a bunch more. So if you would like some I’d definitely encourage you. The other one we have that’s really popular is tackling student debt which goes through the - service members and veterans have a lot of additional benefits when it comes to student loans. And so it’s a great way to know, like, if, you know, I have student loan debt, like, what are my options and what are the things that I can do. So the next one. I think, you know, what the coolest part of what the Office of Service Member does and kind of what is the cornerstone of our educate and empower mission is something we call Misadventures in Money Management. It’s a cutting edge graphic novel meets choose your own adventure training. That engages service members with real life financial choices in a fun and playful manner. Try to picture a time traveling seeker agent rethinking they’re impulse purchases or receiving debt collector calls in the middle of an alien invasion. It’s really quite fun. It’s unlike any financial education training you’ve ever seen. And so this is available. I can, you know, you can go here. It’s not available to the public yet but if you actually don’t go to this Web site but if you go to mimm.gov - mimm.gov, you know, you go see the beta. And you can actually access the training and there are six or seven characters. Each take about 10 minutes. And they just cover topics, like, how to buy a car, how to avoid impulse purchases and allows people to play and see the consequences of their actions in a playful manner while fighting zombies and, you know, saving humans from the alien’s invasion. So it’s pretty cool. And I definitely encourage you to check it out. I think this is especially good for people who, you know, might be repeat offenders who are kind of coming to you and you’ve seen people who are having problems multiple times. This might be a good, fun intervention for people. So, like, I said, you know, the first thing that we do at the bureau - the Office of Service Member Affairs is educate and empower. We do that through military lifecycle. We do that through our publications and we do it through Misadventures in Money Management. The other thing we do is monitor the complaints. You know we on average receive anywhere from 20,000 to 30,000 complaints per years. This was taken in April so I think 2018 will be about the same as we’ve seen before. As you can see we get a lot of complaints about debt collection, credit reporting, mortgages, credit cards. Debt collection and credit reporting are something that affect the general population. But because of the unique nature of service members and security clearances, it affects them even more because if there is something negative on their credit report it actually can affect their security clearance. And recently the Department of Defense just announced new rules that said, you know, previously you’d get a security clearance every five years. So when you get your security clearance five years later they would say warn you, hey we’re about to pull your file. Make sure you cleaned it up. And then they would pull your file and check your credit report. Now instead of doing periodic checking they’re going to be doing continuous monitoring. So basically they could be pulling your file every month to see if, you know, you have any red flags on your file which means that, you know, service members could have something on their credit report and the first time they’re hearing it not from a debt collector but actually from their security NCO - non-commission officer knocking on the door saying sir we have a problem. And so it’s, you know, more than anything that we see. I think, you know, if I had to guess if I had a crystal ball what we will see more of over the next year is people having to really aggressively review their credit histories and make sure that they’re on point because the Department of Defense is going to be looking a lot closer than they have been before. You know as you can see we get complaints, you know, from all 50 states. We also get complaints from, you know, a lot of people overseas. I actually just lived in Germany for the last three years. And, you know, people who are, you know, it’s so much harder to interact with financial products when you’re overseas. You know you have conversions from one financial institution to the other one. I actually just got an email from my bank in Germany saying, “where you are”? I thought I closed that account before I moved back here. And so it’s just something that, you know, we hope that, you know, we can be of service to service members kind of not only on, you know, in the continental United States but overseas as well. And the last thing is, you know, our mission is to improve consumer protections across, you know, federal agencies. We worked with the Department of Defense and V.A. and the Department of Education and the Federal Trade Commission. Recently we worked with the Department of Veterans Affairs to issue what we call a warning order about V.A. refinance offers that sound too good to be true. One of the best benefits for Veterans is these V.A. home loan benefits that allow people to basically buy a home, no money down that’s partially guaranteed by the V.A. We have seen through complaints and through stories we’ve heard from veterans that there are a number of companies that were aggressively trying to get the people who had these loans to refinance their loans with promises that just sounded too good to be true. You know skip mortgage payments, get your escrow back, you know, get into these amazingly low interest rates which is amazing because the interest rates generally are going up. And so we’re happy to report that, you know, we issued this warning order. We’ve seen a number of these refinances go down. And we’ve also seen Congress recently change the rules that say that, you know, any new V.A. home loan that does do this refinancing actually has to be better for the veteran. And so that’s kind of a good picture of what we’re doing here. There’s ways you can get a hold of us. Please feel free to find us on Facebook or Twitter. You can email us at military@cfpb.gov. We also have a great email distribution. So, like, for instance one of the things we just launched yesterday was our first installment of an auto buying series with the Federal Trade Commission. It’s going to be a four-part series talking about what are steps to buy a car. So the first one is choosing the right auto loan. The second one is going to be, you know, new or used cars. Third one’s going to be trading in your old car and the fourth one’s going to be add-ons. So I think, you know, that’s going to be, you know, resources are great for veterans and service members. But it’s also just great advice for generally anyone. So I think I’ve gone over time. You know I think we’re about to open up for questions. So I’m excited to talk to everyone. I really appreciate you listening to us. Heather Brown: Thank you Patrick and (Erin) for those wonderful presentations and lots of good information that you shared in a short time. Operator we are ready to entertain questions. And while the operator is queueing up let’s see I thought I had a couple of questions. I have one actual question. Can you assume that if we received an email about this webinar we are already on the email list you mentioned to get updates on materials? That’s a great question (Tammy) and please don’t assume that because this was sponsored by the FinEx Program. And my colleagues are from different programs. And so they’re highlighting how to reach some of their programs. So you maybe on the FinEx list but not on their list. So I’d go ahead and, you know, request through the emails that you see on the screen now to be a member of their mailing list. And if you’d like to be a member of - somebody had a question? Operator were you going to say something? (Erin Sheetz): This is (Erin). If I could just add onto that Heather. Heather Brown: Sure. (Erin Sheetz): We all do have different email distributions. And one thing that we are very aware of at the bureau is how much email everyone gets. We get a ton of it ourselves. So what we try to do especially when we have something that hits multiple audiences, we only send it out once. We try very hard to do that. I can’t say that we’re successful every single time. But for example the emails that happened - sorry about that guys. I must have a package being delivered. Never a dull moment when teleworking. But the email that we send about the veterans scan placemat. We sent that only once. We worked together to send that so that people who were on both lists didn’t receive it twice. So we’re really aware of that. So I would definitely encourage you if you’re email can handle it to sign up for each of our lists and just know that we have in mind when things hit multiple audiences we will try our hardest to send that only once. Heather Brown: Thank you (Erin). Okay operator do you have any questions in queue? Coordinator: Thank you speakers. Again participants if you have a question at this time please press Star 1 and record your name. Please make sure that your line is unmuted and record your name clearly with the prompt. To withdraw your request please press Star 2. Again if you’d like to ask a question at this time please press Star 1 and record your name. One moment as the question registers. Heather Brown: And while we’re letting the questions register I am just going to go ahead and enter the email address again if you want to join the FinEx if you’re not already on it. If you received an announcement or newsletter for this, you’re already on the mailing list that we mail to regularly for FinEx. But if you did not, if you got it through someone else who forwarded it, then you may want to go ahead and send an email to join. So I just put that up in the chat. Coordinator: Thanks. Excuse me speakers I’m showing no questions from the phone. Once again participants if you’d like to ask a question please press Star 1 and record your name. It looks like we have a new question from (Peter). You may begin. (Peter): Yes hello. My question is we have a local program here in the Boston area that’s kind of on a pilot basis where I happen to even have a neighbor who lives all by herself. She’s about 89. And then we have many different people, like, taking graduate programs who are single grads coming into Boston. They need a single room. What do you think about the process of trying to set up almost, like, a brokerage service that gets the grad student looking for a single room with elderly folks who have many rooms to spare? I recognize it’s such a risk to potentially get them paired up but it could also be very beneficial for both. (Erin Sheetz): This is (Erin). I will say first that that falls outside of the bureau’s jurisdiction. I really can’t comment on that as a bureau employee because we do not regulate how they rent that kind of thing. However having said that in my personal opinion, you know, I think programs, like, that can be really great. They can meet a couple of needs. They can speak to the loneliness that both young adults moving to a new city and older adults face. It can be helpful for identifying fraud or exploitation hopefully even preventing it. However it’s, you know, as you mentioned it is a bit risky. And I think a lot of caution has to be taken with that. However there are programs across the country that are in that similar vein or kind of adopt a grandparent type programs that have been really successful. But that’s about all I can say about that. (Peter): Okay thank you. (Erin Sheetz): Thanks. Heather Brown: Operator do we have other questions? Coordinator: I’m showing no other questions in the queue. Heather Brown: Okay well if there’s no other questions in the queue and I believe I’ve gotten all the questions that I saw online, I think we’re going to go ahead and wrap up. So thank you everyone for attending. As I said at the beginning those that left their email when they signed in will receive a copy of the slides. And we will be posting recordings of the session as well to our Web site. And I look forward to some of you that may not already be a member of our FinEx education exchange membership joining by actually sending an email to cfpb.gov which I just put in the chat. So take care, have a god afternoon and thank you again to our two speakers. Coordinator: Again that concludes today’s conference. Again thank you for your participation. You may disconnect at this time. Speakers please standby for the post conference. END NWX-CFPB HQ Moderator: Heather Brown 1-28-19/1:47 pm CT Confirmation #8718682 Page 1