CFPB releases guide in effort to combat elder financial abuse

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Ahead of World Elder Abuse Awareness Day on June 15, the CFPB released a guide this week that offers planning tools, templates and exercises to help communities create a collaborative network to fight elder fraud.

“The CFPB is focused on stopping financial exploitation of older Americans,” said Kathleen Kraninger, CFPB director, in a June 10 press release. “We hope this resource will help launch networks in fighting elder financial exploitation in communities where networks don’t currently exist.”

The Elder Fraud Prevention and Response Networks Development Guide is an online tool that includes a meeting model on how to set up a retreat and training event to rally stakeholders and community leaders, according to the press release. Retreats can be implemented remotely via teleconference, supporting engagement in rural communities and in consideration of the need for social distancing, the press release states.

The guide also provides resources for reconvening after a retreat to help community leaders take further action to expand network capabilities. More information about the CFPB guide can be accessed by clicking here.

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