Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast
Legally Qualified: Protecting Against Elder Investment Fraud and Exploitation
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
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
On May 3, 2023, Georgia became the latest state to enact legislation to protect elder and vulnerable adults from financial exploitation. The new law which goes into effect on July 1, 2023, requires broker-dealers and...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
Financial exploitation affects at least 10% of the elderly population in the U.S. and is a growing problem according to the U.S. Treasury’s Financial Crimes Enforcement Network. The 2022 Virginia General Assembly enacted...more
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
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
FINRA Rules 2165 (Financial Exploitation of Specified Adults) and parts of 4512 (Customer Account Information) became effective on February 5, 2018 and implemented a framework to permit broker-dealers to place a temporary...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
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
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
With older adults increasingly targeted by financial scammers, Governor Bill Lee has proclaimed Saturday, June 15, 2019, as Elder Abuse Awareness Day in Tennessee to warn seniors and their families and help them avoid falling...more
Elder financial exploitation has been recognized by many state and national agencies as a concern as the population ages and elders shoulder more responsibility for managing their retirement assets under defined contribution...more
Alabama’s Elder Abuse Act attempts to protect financial abuse of elders. But by not including insurance companies and insurance agents, does the Act go far enough?...more
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
It is estimated that six million seniors are subject to financial elder abuse each year. Financial elder abuse can take many forms: deceptive advertising for products with hidden charges or that simply do not work as...more
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
On January 22, 2016, the North American Securities Administrators Association (“NASAA”) adopted a model act, entitled “An Act to Protect Vulnerable Adults from Financial Exploitation.” This act seeks to facilitate...more