As we know, many older adults suffer as a result of financial exploitation. On World Elder Abuse Awareness Day, Consumer Financial Protection Bureau (CFPB) Director, Rich Cordray, announced a request for information (RFI) to learn more about the ways that older adults are being financially exploited.
The RFI closes on Monday, August 20th – there is still time to respond!
Click here for more information and to respond to the RFI.
Goals of the RFI
- Help CFPB understand the senior financial advisor market so they can improve protection for older Americans.
- Help make the work of the office for Older Americans more effective.
Issues Being Explored Through the RFI
- How seniors can best determine the legitimacy of the credentials of financial planners and advisors?
- What financial education, counseling, or management programs are tailored to the needs of older Americans, their families, and their caregivers?
- Asks for information about power of attorney and guardian abuse, affinity frauds, and the exploitation of older veterans?
Click here for more information from the Consumer Financial Protection Bureau.
by Cara Kenien, LMSW, MPA, Social Media Manager, NYCEAC