CFPB Issues Advisory On Best Practices To Enable Financial Institutions To Prevent And Respond To Exploitation Of Elderly And Disabled Customers

LexisNexis (January 26, 2017, 11:27 AM EST) -- Many banks and credit unions may not be aware of a notable "Advisory" issued in March 2016 by the CFPB and available on its website. The Advisory identifies best practices in dealing with exploitation of elderly and disabled customers by con artists. This is a fast-growing area of banking law that has generated numerous statutes across the country in recent years.  In the introduction to its Advisory, the CFPB describes elder and disabled financial exploitation as "the crime of the 21st century."  Only a small fraction...
To view the full article, register now.