senior financial abuse

Come January 1, 2021, senior citizens in California will be afforded additional cancellation rights when entering into contracts negotiated or executed away from typical business establishments. AB-2471, which Governor Newsom signed into law at the end of September 2020, provides greater protections to senior citizens by extending from three to five business days the

On September 24, 2013, the CFPB joined the CFTC, the SEC, the FTC, the NCUA, and the prudential bank regulatory agencies (the Federal Reserve, the OCC, and the FDIC) in the issuance of an Interagency Guidance on Privacy Laws and Reporting Financial Abuse of Older Adults.  The release exempts from the strictures of the

The CFPB’s initiatives to address elder financial abuse were the focus of testimony last week by Hubert H. “Skip” Humphrey III, the CFPB’s Assistant Director for the Office of Older Americans, to the Senate’s Special Committee on Aging.  As we have previously commented, we consider helping consumers aged 62 and older to protect themselves

One of the CFPB’s most worthwhile Dodd-Frank mandates is to help older Americans avoid financial exploitation.

 In addition to developing programs to provide financial literacy and counseling to seniors, the CFPB is taking steps to protect seniors from unethical financial advisors. Those steps
include (1) monitoring certifications that designate financial advisors as specially qualified to