Elder Financial Abuse

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The Consumer Financial Protection Bureau is involved in providing financial protection against elder abuse; indeed, it is specifically tasked with that responsibility. The Bureau's Office of Older Americans is charged by the Dodd-Frank Act with examining certifications of financial advisors who serve elderly individuals and it plans to make recommendations to Congress on how to protect older consumers. Recently, the CFPB issued an information request regarding Senior Financial Exploitation.

In considering the challenges that the elderly must face in order to avoid financial abuse, the following outline of the CFPB's recent information request should be looked upon as a set of questions, the answers to which may provide new ways and means to protect them from the snares of financial predators.

IN THIS ARTICLE

-Announcing the Information Request

-Categories

-Senior Financial Advisor - Certifications and Designations

-Providing Financial Advice and Planning Information

-Senior Certification and Designation Information Sources

-Financial Literacy

-Financial Exploitation of Older Americans

-Financial Exploitation of Older Veterans of the Armed Forces

-Library Resources

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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