Compliance: CFPB, FDIC to host elder abuse prevention webinar

July 1, 2019

The Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) will co-hosting a webinar July 25 to outline strategies to address and prevent elder financial abuse. Registration is currently open for the free webinar, scheduled for 2 p.m. (ET) July 25.

The webinar will focus on the benefits of appropriate collaboration between financial institutions and law enforcement regarding this issue and will provide financial institutions with resources and strategies to develop strategic relationships.

In addition, the webinar will discuss the unique challenges involved in detecting and preventing elder financial abuse and will explain how Suspicious Activity Report (SAR) filings can be used to combat it.

The webinar will also cover Money Smart for Older Adults, a free resource developed by the FDIC and CFPB to raise awareness among older adults and their caregivers about how to prevent elder financial exploitation and encourage advance planning and informed financial decision-making.

A recent CUNA CompBlog post examines a several studies on elder abuse, including characteristics that put seniors at risk and links to elder financial abuse prevention resources for financial institutions.

In addition to the CompBlogCUNA’s Compliance Community contains discussion boards and a number of other resources for credit union compliance professionals around the country.