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Friday, June 20, 2014

CFPB Provides Financial Guide for Older Americans

The CFPB has released a manual for assisted living and nursing facility managers and staff to help protect older Americans from financial exploitation. The guide was prepared by the CFPB Office for Older Americans, the federal office dedicated to the financial health of Americans age 62 and over. The guide provides information about potential warning signs of financial exploitation as well as steps for reporting and preventing financial abuse. The guide explains:

While everyone, regardless of age, is a potential victim of theft and other financial crimes, older Americans are at greater risk than the general population. Cognitive impairment diminishes the ability of older adults to make financial decisions and to detect frauds and scams.

Read the guide.

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