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Cornerstone's Your Money, Your Matters to Address Financial Abuse of Elderly Today at 11 a.m. Central
Tuesday, November 5, 2013 7:00 AM

As the U.S. population ages, financial scams targeting the elderly have unfortunately become a growing problem, netting thieves billions of dollars a year. An earlier study conducted by MetLife finds that 51 percent of elder financial abuse is perpetrated by strangers. Sadly, 34 percent is perpetrated by family, friends or neighbors. It seems women are twice as likely as men to be victims of elder financial abuse, with most being between the ages of 80 and 89.

On today’s episode of Your Money, Your Matters, financial elder abuse will be the topic of discussion, including what measures regulators such as the Consumer Financial Protection Bureau are doing to combat the program, and what credit unions can, and are doing, to help prevent such crimes. The red flags of elder financial abuse will also be discussed.  

Broadcasting every Tuesday from 11 a.m. to noon Central Time, the Cornerstone Credit Union League’s (Cornerstone) Your Money, Your Matters features radio personalities Linda Webb-Manon and Rick Grady, Cornerstone; Courtney Moran, Cornerstone Credit Union Foundation, and Todd Mark, Consumer Credit Counseling Services. Each Tuesday, the four will discuss financial issues of most importance to consumers.

Credit unions are encouraged to dial in and share what they are doing to prevent elder financial abuse. The call-in number is (646) 929-1020. To listen to the show online, please visit www.blogtalkradio.com/cornestoneleague.