Advisors, banks can report elder financial abuse

September 26, 2013 by Maria Wood

Financial institutions can report suspected financial abuse of the elderly under certain circumstances without violating the individual’s privacy. That was main takeaway from guidance issued by the Consumer Financial Protection Bureau and seven other federal agencies yesterday.

For advisors and employees of financial institutions like banks who believe an elderly person may be the victim of financial fraud, this statement provides guidance on whether they should report such possible wrongdoing to authorities. Click here to read…

Originally Posted at LifeHealthPro on September 25, 2013 by Maria Wood.