June 26, 2019 / Source: FDIC

FDIC and CFPB Host Webinar on Elder Financial Abuse Prevention

Encourages Collaboration between Financial Institutions and Law Enforcement

FOR IMMEDIATE RELEASE
June 26, 2019

Media Contact:
LaJuan Williams-Young
202-898-3876
[email protected]

The Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) are co-hosting a webinar to outline strategies to address and prevent elder financial abuse. In particular, the webinar will focus on the benefits of appropriate collaboration between financial institutions and law enforcement regarding this issue, and will provide financial institutions with resources and strategies to develop strategic relationships. The webinar will take place on July 25, 2019 from 2:00 p.m. to 3:00 p.m. ET.

In addition, the webinar will discuss the unique challenges involved in detecting and preventing elder financial abuse, and will explain how Suspicious Activity Report (SAR) filings can be used to combat it. The webinar will also cover Money Smart for Older Adults, a free resource developed by the FDIC and CFPB to raise awareness among older adults and their caregivers about how to prevent elder financial exploitation and encourage advance planning and informed financial decision-making.

Registration is available online.

Download Money Smart for Older Adults.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's banks and savings associations, 5,362 as of March 31, 2019. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars—insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-55-2019