Transcript for pre-recorded age-friendly banking webinar on OA’s consumer education resources for financial institutions >> ERIN SCHEITHE: Thank you so much for joining our webinar on CFPB resources to help financial institutions serve older account holders. This webinar is brought to you by the CFPB Office for Older Americans. Before we begin, I want to read a brief disclaimer. This presentation is being made by a Consumer Financial Protection Bureau representative on behalf of the Bureau. It does not constitute legal interpretation, guidance, or advice of the CFPB. Any opinions or views stated by the presenter are the presenter's own and may not represent the Bureau's views. We will start by sharing a little bit of information about the CFPB Office for Older Americans. Our office develops initiatives, tools, and resources that are designed to help protect older consumers from financial harm, as well as help them make sound financial decisions as they age. >> KATE KRAMER: Now, let's take a look at some CFPB resources that financial institutions can use to help educate their customers, members, and community members. The first of these resources are the Managing Somebody Else's Money guides. We have guides for four types of financial caregivers to help people handle somebody else's money if that person is unable to manage their own. We have guides for agents under a power of attorney, guardians and conservators, trustees, Social Security and Department of Veterans Affairs representatives. We have six state-specific guides for Georgia, Florida, Illinois, Arizona, Oregon, and Virginia. We also have a tips and templates guide for adapting to your state. If we do not have a specific guide for your state, you can work together to create one with other stakeholders. These are great resources to share with caregivers or clients who have questions about power of attorney, guardianship, or other financial caregiving roles. You can order these for free and keep some in your branch to hand out as needed. They are available in both English and Spanish. The next resource is our Money Smart for Older Adults curriculum. This is a plug-and-play program which were designed together with the FDIC and is created to help older adults identify and avoid scams, fraud, and financial abuse. You can use the instructor guide, PowerPoint, and accompanying resources to present this to older adults in your community, or order copies of the resource guide to hand out or review one-on-one with a client, friend, or family member to learn and discuss together. You can order these resources for free in bulk from CFPB. The resource guide contains information and activities to help people learn the material, tools and instructions to complete these activities, a glossary of key terms, and plenty of information about common scams. The instructor guide has a presentation planning guide, summary, posttest, evaluation form, glossary, and much more. The next resource is our popular fraud prevention series. This group of resources helps you share important information about avoiding common scams. We originally designed these to be used by meal delivery programs, but we have seen these resources being used by financial institutions and community organizations in a variety of ways. You can order placemats, posters, bookmarks, and table tents in English or Spanish to display at your branches or use for events and gatherings. You can also download the digital handouts and share them in email newsletters or on your website. One way that financial institutions can collaborate with community partners is through an elder fraud and prevention response network. These are ongoing collaborative efforts for various types of professionals to work together to detect, prevent, or respond to elder financial exploitation. Key partners often include financial institutions, law enforcement, Adult Protective Services, legal aid, victim services organizations and many others. The Office for Older Americans started an outreach initiative to help communities in several different states build new networks and help existing networks grow in size or scope or enhance their impact. As a result, we developed a model for identifying potential networks, coordinating with key stakeholders, and building support to help create the network. Network members like financial institution staff and law enforcement officers shared with us that they are already working busy, full-time jobs and that they could use ready-made resources to establish a network in their community. To meet this need, we released our network development guide in 2020. It contains resources for planning and facilitating a network retreat, establishing the network, expanding network capabilities and much more. If you are interested in joining an existing network in your area or helping to start one, please check out the network development guide. We have consumer advisories on all of the topics you see here and much more. Again, you can order these in bulk and keep them at your branch or you can hand them out at events, seminars, or luncheons. I wanted to highlight this consumer advisory, in particular, because it teaches older consumers how they can work together with their bank or credit union to protect themselves from fraud. Please feel free to order copies of this and display them in your branches if you think it might be helpful for your customers. >> ERIN SCHEITHE: If you are interested in learning more about the CFPB's Office for Older Americans, you can visit our website at consumerfinance.gov/olderamericans. We occasionally send out emails with updates for stakeholders that serve older consumers. You can join our email list by sending an email to olderamericans@cfpb.gov. Thank you so much for joining us and have a great rest of your day.