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Financial Institutions Elder Abuse

Troutman Pepper

Litigating Elder Financial Exploitation Cases: Defending Banks in a Tough Spot — The Consumer Finance Podcast

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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

Ballard Spahr LLP

FinCEN Warns Against Elder Financial Exploitation

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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

Faegre Drinker Biddle & Reath LLP

Having a Senior Moment: Recent Legislation and Rules to Protect Seniors from Financial Exploitation

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

UB Greensfelder LLP

[Webinar] Elder Abuse: Risks, Pitfalls and How to Try a Complex Elder Financial Abuse Case - March 23rd, 2:00 pm - 3:00 pm EDT

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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

Foster Swift Collins & Smith

How FEPA Protects Michigan’s Elderly Against Financial Exploitation

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

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

Downey Brand LLP

A Thin Blue Line: APS and the DA Have Few Resources to Combat Financial Elder Abuse

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Seniors are vulnerable to financial elder abuse and are often victimized, but there’s a scarcity of government resources in Sacramento County and elsewhere in California to address the problem. On May 21, 2019, the...more

Carlton Fields

Protecting At-Risk Seniors from Financial Exploitation

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The Senior Safe Act (12 U.S.C. § 3423) took effect May 24. The Act “extends immunity from liability to certain individuals employed at financial institutions who, in good faith and with reasonable care, disclose the suspected...more

Mayer Brown Free Writings + Perspectives

What Financial Institutions Need to Know about Regulations on Elder Financial Exploitation

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

Bradley Arant Boult Cummings LLP

Alabama’s Act Aimed at Prohibiting Financial Abuse of Elders – Should It Be Expanded to Cover Insurers and Insurance Agents?

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

Ballard Spahr LLP

Senate Banking Committee schedules Dec. 5 markup of regulatory reform bill

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Last week, members of the Senate Banking Committee announced that they had reached bipartisan agreement on “legislative proposals to improve our nation’s financial regulatory framework and promote economic growth.” ...more

Carlton Fields

Fraud-Free Sunsets: How Financial Professionals Can Deter Financial Elder Abuse in Florida and Reduce Their Own Liability Exposure

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Investment advisers, securities brokers, and other financial professionals who work directly with clients who are age 60 and older have two reasons to learn more about Florida’s financial elder abuse laws....more

Stinson LLP

SEC Approves New Rules Enabling Financial Advisors to Defend Vulnerable Clients from Exploitation

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Financial exploitation of aging and mentally diminished investors by family members and third parties is on the rise. With America's senior population growing rapidly, this problem may only get worse. More than half of all...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 Community Bank Advisory Council to meet on April 21

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The CFPB will hold a meeting of its Community Bank Advisory Council on April 21, 2016 in Washington, D.C. According to the CFPB’s notice published in today’s Federal Register, there will be a discussion of 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

Holland & Knight LLP

FINRA Proposal Lets Financial Firms Hold Funds of Elder Abuse Victims

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The Financial Industry Regulatory Authority (FINRA) will soon be soliciting public comment on a proposal allowing financial institutions to put a hold on customer funds and notify a customer's "trusted contact" when the...more

Cole Schotz

New Jersey Court Holds Financial Institutions are Not Required to Report Suspected Elder Fraud

Cole Schotz on

In a case of first impression, the Superior Court of New Jersey held that financial institutions do not have an affirmative duty to report suspected fraud upon senior citizens or vulnerable individuals. See Lucca v. Wells...more

Ballard Spahr LLP

CFPB to hold event on financial management for seniors

Ballard Spahr LLP on

The CFPB has announced that it will hold an event in Springfield, Virginia on August 17, 2015 about financial management for seniors and their caregivers. The event will feature remarks from Director Cordray and Virginia...more

McGuireWoods LLP

CFPB Targets Practices Impacting the Elderly

McGuireWoods LLP on

On July 13, the Consumer Financial Protection Bureau (CFPB) Director Richard Cordray delivered remarks at the White House Conference on Aging and signaled the CFPB’s plans to issue an advisory later in 2015 to assist...more

Ballard Spahr LLP

FTC, Florida AG File Action to Stop Alleged Telemarketing Debt Relief Scam Targeting Seniors

Ballard Spahr LLP on

The Federal Trade Commission (FTC) and the Florida Attorney General (AG) have jointly filed a complaint in a Florida federal court against several companies and their individual owners alleging that the defendants engaged in...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the financial services community, Volume 6, Issue 3

In This Issue: - The National Senior Investor Initiative - SEC Commissioner Addresses Structured Notes - The SEC Defines “Voting Equity Securities” Under the Rule 506(d) Bad Actor Disqualification Rules ...more

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Updated: Dec 28, 2021:

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Sausalito, CA 94965

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