The CFPB has launched the second phase of its “plain-language” guides for lay fiduciaries, publishing state-specific versions of the Managing Someone Else’s Money. At an event this week the Bureau released guides for the Commonwealth of Virginia, the first of six states with large populations of older people that will be receiving specially adapted guides. Following the release of the Virginia guides, the Bureau plans to follow up with similar guides for five other states: Arizona, Florida, Georgia, Illinois and Oregon. Hard copies of all guides are available free and in bulk, as well as on the Bureau website.
Read Director Cordray's remarks.