The Federal Trade Commission’s Consumer Sentinel Network took in more than 334,000 fraud reports filed by Americans age 60 or older, with reported losses of more than $600 million, the commission reported in its annual report to Congress on protecting older consumers.
Browsing: Protecting older Americans
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
The ABA Banking Journal Podcast continues a pre-Thanksgiving tradition by interviewing the winners of ABA’s 2020 Community Commitment Awards. These stories present the perfect inspiration as we prepare for the season of thanks and giving.
Americans don’t like to talk about money. But when a serious and sudden health event takes place, powers of attorney are a critical step to help families prepare for potential caregiving needs.
The ABA Foundation, in collaboration with the Federal Trade Commission, released a new infographic today to educate consumers on impostor scams which disproportionately affect older adults.
The ABA Foundation today recognized seven banks for their outstanding commitment to their communities.
Consumers aged 60 and older lost nearly $440 million to fraud in 2019, a $40 million rise from the prior year, according to a report submitted to Congress today by the Federal Trade Commission.
A new study by the Consumer Financial Protection Bureau today found that just over half of retired Americans who retired between 1992 and 2014 were able to maintain their same level of spending for five years after retiring.
For seniors, social distancing saves lives but breeds vulnerability to fraud. Here’s how banks are protecting older Americans’ finances in the COVID-19 era and beyond.
How banks of all sizes are delivering tailored financial education programs that meet the needs of distinct—and vulnerable—groups in their communities.