ABA Addresses Elder Financial Abuse at White House Conference

Financial institutions are “well-positioned” to take a proactive stance on preventing fraud and financial exploitation of seniors, ABA Board Member F. Scott Dueser — who is chairman, president and CEO of First Financial Bankshares Inc., Abilene, Texas — told White House Conference on Aging participants yesterday. “The more we can talk about it, the less we’ll have,” said Dueser, who represented ABA at the conference.

Dueser called upon financial institutions to educate employees and consumers alike on identifying these crimes against the elderly and talked about the importance of banks’ partnerships with law enforcement and social service organizations to help prevent fraud and financial abuse. “If people know what is happening to them, it makes a big difference. We have got to get out and educate our communities,” said Dueser, who is also a member of ABA’s Bank Community Engagement Council.

ABA yesterday unveiled a new online tool to showcase banks’ corporate social responsibility programs. The interactive map compiles entries in ABA’s Community Commitment Awards since 2012, and is searchable by state, asset size and category — including a “Protecting Older Americans” category.