News & Analysis as of

Elder Issues Exploitation Consumer Financial Protection Bureau (CFPB)

Bressler, Amery & Ross, P.C.

Interagency Statement on Elder Financial Exploitation

On December 4, an Interagency Statement on Elder Financial Exploitation (the “Interagency Statement”) was issued by the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB),...more

Orrick, Herrington & Sutcliffe LLP

Agencies issue guidance on elder financial exploitation

On December 4, the CFPB, the FDIC, the Fed, FINCEN, the NCUA, the OCC and state financial regulators issued a statement titled the “Interagency Statement on Elder Financial Exploitation” to provide supervised financial...more

Troutman Pepper Locke

Federal and State Financial Agencies Issue Guidance on Elder Financial Exploitation

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Earlier this week, the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2022

Headlines - ..FDIC Proposes Substantial Increase in Deposit Insurance Assessment Rates ..Federal Reserve Releases New CECL Implementation Tool: Expected Losses ..Estimator OCC Report Highlights Risks Facing the Federal...more

Alston & Bird

CFPB Updates Financial Institution Guidance on Elder Financial Exploitation

Alston & Bird on

A&B ABstract: In July 2019, the Consumer Financial Protection Bureau (“CFPB”) issued an update to its 2016 Advisory and Recommendations for Financial Institutions on Preventing and Responding to Elder Financial...more

Ballard Spahr LLP

CFPB issues update to 2016 advisory on elder financial abuse

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The CFPB has issued an update to its 2016 advisory that contained recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans....more

Ballard Spahr LLP

FDIC and CFPB to co-host webinar on elder financial abuse

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On July 25, 2019, from 2:00 p.m. to 3:00 p.m. ET, the FDIC and CFPB will co-host a webinar to outline strategies to address and prevent elder financial abuse. The webinar will focus on the benefits of collaboration between...more

Ballard Spahr LLP

CFPB Publishes Report on Elder Abuse Based on Newly Available SARs Data

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The CFPB’s Office of Financial Protection for Older Americans has issued a new report on combating elder abuse. ...more

Ballard Spahr LLP

CFPB to hold Oct. 18 town hall on preventing elder financial exploitation

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On October 18, 2018, the CFPB will hold a town hall in Baton Rouge, Louisiana on preventing elder financial exploitation. ...more

Ballard Spahr LLP

CFPB report on community networks to combat elder financial abuse and resource guide highlight role of financial institutions

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The CFPB has issued a new elder financial abuse report, “Report and Recommendations: Fighting Elder Financial Exploitation through Community Networks,” and a related resource guide, “A Resource Guide for Elder Financial...more

Ballard Spahr LLP

CFPB to hold May 25 webinar for banks on elder financial exploitation

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The American Bankers Association has reported that on May 25, 2016, the CFPB will hold a webinar on how banks and credit unions can protect older consumers from financial exploitation. The webinar will highlight the CFPB’s...more

Ballard Spahr LLP

CFPB issues advisory and report on elder financial abuse

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The CFPB has issued an advisory and a report with recommendations for banks and credit unions on how to prevent, recognize, report, and respond to financial exploitation of older Americans. The CFPB’s press release describes...more

Ballard Spahr LLP

CFPB issues advisory for older consumers about asset recovery scams

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The CFPB recently issued an advisory for older consumers about asset recovery companies that target older consumers who are past victims of fraud, such as bogus timeshare investments and in-home business opportunities. The...more

Goodwin

Financial Services Weekly News - October 2015 #3

Goodwin on

Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

Ballard Spahr LLP

CFPB and FDIC launch new tool for preventing elder financial exploitation

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The CFPB and Federal Deposit Insurance Corporation have jointly launched a new financial resource tool to assist older adults and their caregivers in avoiding elder financial exploitation. Named “Money Smart for Older...more

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