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CFPB Leads Discussion on Ways to Combat Elder Financial Abuse
Wednesday, July 29, 2015 6:35 AM

Consumer Financial Protection Bureau officials reached out to Credit Union National Association and credit unions seeking information on their experiences with elder financial abuse.

CUNA advocacy staff participated in a conference call Monday with CFPB and members of CUNA’s Consumer Protection Subcommittee on ways to combat elder financial abuse. The call included discussions on ways credit unions and the bureau can curb abusive practices targeted at elderly members.

CFPB Director Richard Cordray spoke at the White House Conference on aging July 13 and said the bureau will release an advisory to financial institutions later this year on combating elder financial abuse.