Elder Abuse-Financial Exploitation and Fraud
Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast
Legally Qualified: Protecting Against Elder Investment Fraud and Exploitation
How Should We Celebrate Elder Law Month?
On June 14, 2024, President Biden declared June 15th World Elder Abuse Awareness Day. In honor of the day, the Financial Crimes Enforcement Network (FinCEN) reminded financial institutions (FIs) to remain vigilant in...more
People preying on the elderly to get at their life savings, unfortunately, has become a common occurrence in today’s society. We have all heard stories about an elderly person being targeted and falling victim to an...more
According to the California Department of Aging, more than 200,000 older and dependent adult abuse cases are reported each year. Many more cases certainly go unreported....more
The Financial Crimes Enforcement Network (“FinCEN”) recently issued a Financial Trend Analysis (“Analysis”) focusing on patterns and trends identified in Bank Secrecy Act (“BSA”) data linked to Elder Financial Exploitation...more
As our loved ones age, it becomes increasingly important to remain close and vigilant. While family members often serve as primary caregivers, it's crucial to recognize that not all instances of elder exploitation stem from...more
Aging loved ones, particularly who are struggling, can quickly find themselves in unique and challenging situations. Today’s world poses a host of challenges for those with diminished capacity. Learn what options might be...more
Join Troutman Pepper Partners Chris Willis, Mary Zinsner, and Dave Gettings for an in-depth discussion about litigating elder financial exploitation cases. Elder abuse and financial exploitation of the elderly are increasing...more
Massachusetts Attorney General (AG) Andrea Joy Campbell announced the creation of a new Elder Justice Unit, which will use existing resources to protect and promote the safety and well-being of elders through enforcement...more
If you haven’t seen the Netflix film “I Care a Lot,” SPOILER ALERT!!!! – Rosamund Pike portrays a professional guardian who, with the help of a crooked doctor and oblivious judge, has elderly persons declared incapacitated,...more
It’s sometimes said that growing older is a privilege. Even so, aging can cause concerns about health issues, financial security, and family relationships. Every year it is reported that family members or “friends” with...more
On July 1, 2022, Iowa’s first broad elder abuse criminal law went into effect after being passed by the Iowa House and Senate unanimously. The Act is entitled “Resident, Dependent Adult, and Older Individual Protection Act.”...more
On June 15, FinCEN issued an Advisory on Elder Financial Exploitation (“Advisory”) to warn financial institutions about the rising trend of elder financial exploitation (“EFE”), which FinCEN defines as “the illegal or...more
In recent years there has been a spate of legislation and rules passed to protect senior investors. Similarly, observers of FINRA’s and the SEC’s annual priorities will, of course, have noticed both bodies’ inclusion of elder...more
As the elderly population increases, it is becoming more common for adult children to step in to help with financial decisions. The children may find themselves being in charge of a parent’s finances if they have a cognitive...more
Join Ulmer partners Michael N. Ungar and Daniela Paez as they discuss the current regulatory landscape as well as the litigation trends and risks surrounding elder financial abuse and exploitation. They will also share an...more
In 2019, I wrote about a then pending proposal, SB 496 (Moorlach), to add broker-dealers and investment advisers to the category of mandated reporters of known or suspected financial abuse of elders or dependent adults. ...more
In 2021, Michigan passed the Financial Exploitation Prevention Act (FEPA or Act) which took effect last September. FEPA sets forth new requirements on financial institutions to report financial exploitation of vulnerable...more
On December 6, 2021, Governor Kathy Hochul expanded the legal definition of “elder abuse and exploitation” to incorporate identity theft in the list of eligible support services and programs for seniors through non-profit...more
This article was originally published in September 2019 and has since been updated with more current information. To say that last year’s 2020 holiday season was strange and exhausting would be a massive understatement. With...more
On Friday August 6, 2021, Wisconsin Governor Tony Evers took action on six Senate bills. One of these bills, Senate Bill 17, now 2021 Wisconsin Act 76, addressed five key issues...more
How can we protect seniors who may be vulnerable to financial abuse or scams? RumbergerKirk's latest Legally Qualified podcast answers this question and more. RumbergerKirk attorneys Pete Tepley and Rebecca Beers talk with...more
We have an elder fraud epidemic in this country. By one estimate, one in 10 people in the United States over the age of 65 falls victim to financial fraud every year. Telephone scams, caretaker abuse and contractor fraud are...more
Following the passage of last year’s federal Senior Safe Act, several states moved to beef up protections for senior investors by permitting brokers to act without liability. • Rhode Island’s Senior Savings Protection Act...more
Reports of elder financial abuse continue to increase, and the elderly are particularly vulnerable to scams or to financial abuse by family members in need of money. It is hard to ascertain the exact numbers of people...more