Financial Exploitation

Elder financial exploitation threatens the financial security of millions of older Americans annually. CFPB has released updated resources for elder fraud prevention and response networks, including a report on the network collaboration and a streamlined virtual Network Development Guide.

CFPB released a new report outlining the stages of recovery from elder financial exploitation and addressing why some older adults are more likely to get their money back than others. The report also identifies areas of work in policy, research, and practices that can help us improve the likelihood of recovery.

The Consumer Financial Protection Bureau released a report about how to fight elder financial exploitation by using community networks. CFPB also offered specific recommendations as to existing networks and stakeholders to assist in the fight against exploitation.