In recognition of American Housing Month and as part of ABA’s ongoing commitment to protecting older Americans, the ABA Foundation today issued a press release with tips for helping seniors “age in place” in their own homes.
Browsing: Protecting older Americans
Prize-linked savings accounts can provide meaningful incentives for consumers to increase their savings, according to Brian Plum, president and CEO of Blue Ridge Bank in Luray, Va. An ABA member, Plum testified today before a Senate Aging Committee hearing on innovations to promote financial security.
The House Financial Services Committee unanimously passed a bill today creating a safe harbor for financial institutions and their employees who report suspected elder financial abuse to authorities.
In observance of World Elder Abuse Day on June 15, the ABA Foundation today issued a press release with steps older Americans and their caregivers can take to prevent financial abuse, which is estimated to cost seniors $2.9 billion each year.
In observance of Older Americans Month, ABA SVP Corey Carlisle took part in a radio tour to discuss the ways seniors and their caregivers can guard against fraud and financial exploitation — which is estimated to cost seniors an estimated $2.9 billion in losses each year.
In observance of Older Americans Month this May, ABA today issued a press release warning consumers of impersonation scams — commonly referred to as “grandparent scams” — where criminals deliberately target older Americans by posing as family members or friends.
The Consumer Financial Protection Bureau today released an advisory and report highlighting voluntary best practices for banks to protect seniors from financial exploitation.
As technology evolves, state-level stalwarts such as elder financial abuse and foreclosure are now sharing the legislative spotlight with novel issues generated from the success of Airbnb, Uber and other “sharing economy” firms.
By Linda W. Navarro here are many ways that banks engage in protecting their customers’ hard-earned dollars. Lending prudently, providing deposit insurance, combating fraud, advising about smart financial choices—the list goes on. Lesser known, but equally important, is the work banks do to protect older Americans from financial abuse. (See “Safe Banking, Savvy Seniors.”) At