Elder Abuse-Financial Exploitation and Fraud
AGG Talks: Healthcare Insights Podcast - Episode 6: Charting the Future of Nursing Home Staffing
Taking the Pulse, A Health Care and Life Sciences Video Podcast | Episode 197: The Next Generation of Senior Living with Tate Stewart and Alan Moise of Thrive Senior Living
Williams Mullen's Strategies for Senior Care: The Upside of Compliance Plans for Senior Care Facilities
Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast
Legally Qualified: Protecting Against Elder Investment Fraud and Exploitation
Leaders Moving Business Forward with Naveen Kathuria of eFamilyCare
How Should We Celebrate Elder Law Month?
What is Consumer Fraud and What Deceptions are Employed?
Ventas' Debra Cafaro on why the Health Care asset class is well positioned in today's economy
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
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
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
The Internal Revenue Service (IRS) recently issued guidance on two new exceptions to the tax on early distributions from certain eligible retirement plans. This guidance, outlined in Notice 2024-55 (IR 2024-170, 6/20/2024),...more
The Federal Bureau of Investigation (FBI) recently issued a warning about scams involving timeshares that have senior Americans as the primary victim. The FBI noted that timeshare fraud poses a significant risk to older...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
On December 13, 2023 Michigan became the latest state to enact legislation to protect elder and vulnerable adults from financial exploitation. Effective March 13, 2024, the new law requires broker-dealers and...more
On October 18, the Federal Trade Commission (FTC) issued a report to Congress in which it outlined its ongoing efforts to protect older Americans from fraud related losses....more
Federal Communications Commission Chair Jessica Ronsenworcel recently announced a proposed directive to focus the FCC on AI’s burgeoning role in scam calls, particularly those targeting the elderly. The proposal will be...more
A recent research study published in JAMA Network Open suggests that older adults – including many who are not cognitively impaired – may be falling victim to “Government Impersonation” scams at a rate higher than previously...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
Mindful of the impending retirement of many millions of investors in the “baby boomer” generation, which hold a substantial amount of the world’s wealth, the Financial Industry Regulatory Authority (FINRA) continues to...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 February 15, 2022, FINRA announced the adoption of certain amendments to FINRA Rule 2165, a rule aimed at preventing financial exploitation of seniors and specified adults. The amendments now allow member firms to place a...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 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
Arkansas and Hawaii are the latest states to enact laws enhancing the protection of elder and vulnerable adults from financial exploitation. On July 28, 2021, Arkansas’s amendment to its financial exploitation law became...more
On June 14, 2021, Texas modified its law protecting elder and vulnerable adults from financial exploitation by clarifying the law’s wording and expediting the process for placing holds. The enacted Texas House Bill 4477...more
On June 9, 2021, FINRA announced a proposed rule change to amend Rule 2165 (Financial Exploitation of Specified Adults). The amendments would make two changes to the rule that was implemented just over three years ago. ...more
On September 22, 2020, the CFTC along with 30 state securities regulators filed a historic joint enforcement action against two precious metals dealers and their companies for perpetrating a $185 million scheme to defraud...more
Continued FINRA Focus - If regulatory developments in 2020 are any indication, FINRA’s efforts to protect senior customers from financial exploitation and vulnerability will continue in 2021 and beyond....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
With an aging population that continues to mature, many hospitals are struggling to address a growing problem: how to timely treat and discharge patients who lack mental capacity to provide informed consent to medical care....more