I came across a March 2016, “Recommendations and report for financial institutions on preventing and responding to elder financial exploitation” prepared by the Consumer Financial Protection Bureau. The following is a link to the lengthy report, https://www.consumerfinance.gov/data-research/research-reports/recommendations-and-report-financial-institutions-preventing-and-responding-elder-financial-exploitation/
Many of the recommendations are worthwhile, particularly beginning with the recommendations on pages 12-57. I would like to know more about the steps or processes that financial institutions are taking to prevent and respond to financial elder abuse and exploitation, including elective best practices, and if there are requirements that are mandated by statute, regulation, rule, etc. I am particularly interested in financial institutions that are located in California, but practices or requirements outside of California are also of interest.
Thank you for your response – any information that you have is appreciated. If you wish, you can also respond to me by email at firstname.lastname@example.org
Thank you, and best to you. David Tate, Esq.