New Federal Agency Focusing on Elder Financial Abuse

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The new Consumer Financial Protection Bureau (CFPB) has an Office of Financial Protection for Older Americans. According to the Office’s website, “Older Americans face many financial challenges as they age. They have opportunities to travel, explore new fields of work or hobbies, or spend time with family and friends. But often scam artists or bad advice take away these opportunities. The Office of Financial Protection for Older Americans is here to give seniors information and tools to navigate safely through financial challenges.”

The new director of the Office is Hubert “Skip” Humphrey, the former Attorney General of Minnesota. Skip and his staff have reached out to many in the elder abuse and aging communities, including NAPSA, to learn about the many forms of elder financial abuse and possible ways the new Bureau might effectively address this growing and very serious problem. For more information, visit this link