Mulvaney: CFPB Working to Create ‘Community Networks’ to Counter Elder Abuse

In remarks at a town hall event in Topeka, Kan., today, Consumer Financial Protection Bureau Acting Director Mick Mulvaney said that the bureau is working to form “community networks” of local law enforcement agencies and state financial regulators that can work together with the CFPB to counter elder financial abuse and “find where the problems are.”

“We are good at collecting data, but you’re on the ground,” Mulvaney said, calling on state attorneys general play an active role in building these community networks over the next several months. “You are where the rubber meets the road. And you have a much better chance of focusing on solving that problem.” He added that “it is our goal to have this in place by the end of the calendar year.”

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Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.