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Vulnerable Victims Elder Abuse

Lowndes

Protecting Elderly Loved Ones: The Role of Guardianship Practices

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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

Troutman Pepper

Massachusetts AG Announces Creation of New Elder Justice Unit, Appoints Experienced Health Care Prosecutor As Head

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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

Miles Mediation & Arbitration

Preying on Seniors: Preventing Elder Financial Abuse

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

Dentons

Resident, Dependent Adult, and Older Individual Act Summary

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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

Allen Matkins

Nearly 700 Reports Financial Abuse of Elders/Dependent Adults Received By DFPI

Allen Matkins on

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

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

Rivkin Radler LLP

Governor Expands Definition of ‘Elder Abuse’ to Include Identity Theft

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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

Ruder Ware

Governor Evers Acts to Protect Seniors

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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

Rivkin Radler LLP

10 Steps to Protect Your Loved Ones From Elder Fraud Abuse

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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

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

Ballard Spahr LLP on

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

Burr & Forman

Tennessee Securities Regulator is President-Elect of NASAA

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Frank Borger-Gilligan, Tennessee’s chief securities regulator, last week was selected as President-Elect of the North American Securities Administrators Association (“NASAA”) at the annual meeting in Anchorage, Alaska. ...more

Ervin Cohen & Jessup LLP

What Lawyers Should Know (But Mostly Don’t) About Financial Elder Abuse Claims

The financial elder abuse and fraud cases playing out in court right now surrounding Marvel Comics icon Stan Lee trace back to state laws enacted many years ago like the California Elder Abuse Act, designed to protect those...more

Saul Ewing LLP

Financial Exploitation of Elders is a National Crisis

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Many publications report on the prevalence of elder financial abuse in our society. It can arise from misuse of powers of attorney, guardianships, and estate and trust administrations, as well as out and out scams. Many...more

Tonkon Torp LLP

Vulnerable Person Abuse Protections Coming To FINRA In 2018

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Similar to the Oregon legislature's recent changes to ORS Chapter 59, intended to protect "vulnerable persons" against financial exploitation, FINRA has implemented changes to its rules effective February 5, 2018, intended to...more

Burr & Forman

FINRA Senior Protection Rules Effective Feb. 5

Burr & Forman on

A pair of FINRA Rule revisions designed to protect seniors from financial exploitation become effective February 5. The Rules require member firms to obtain “Trusted Contact Person” information and impose short...more

Chambliss, Bahner & Stophel, P.C.

Tennessee Is Protecting Grandma with New Legislation

Tennessee is protecting Grandma! Two pieces of legislation were approved this year: the Elder and Vulnerable Adult Protection Act, which is on its way to Gov. Haslam to be signed into law, and the Elderly and Vulnerable Adult...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

Carlton Fields

Expect Focus - Volume I, March 2017

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Regulators Demand Third-Party Risk Management - While third-party risk management has been a required component of an effective enterprise risk management program for many years, the topic is receiving elevated attention...more

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