Friday, June 29, 2012
The Consumer Financial Protection Bureau's Request for Information on Senior Financial Exploitation (RFI) is now in the Federal Register. The request seeks information on elder financial abuse and exploitation as well as certifications or designations of financial advisors who serve seniors. The Bureau is seeking as robust a response as possible. If you have regular membership calls or email communications (such as a listserv) and if you think it is appropriate to let your membership know about the RFI, please encourage comment submissions. There is a sixty (calendar) day window for responses. The last day for responses is August 17th.
Here is the link to the Request https://www.federalregister.gov/articles/2012/06/19/2012-14854/request-for-information-regarding-senior-financial-exploitation
This is a unique opportunity for advocates and practitioners to let the CFPB know what they are seeing and experiencing personally and professionally on the issue of elder financial abuse and exploitation. In addition to questions about senior financial advisor certifications and advice, there are questions concerning financial literacy efforts, power of attorney and guardian abuse, affinity frauds and financial exploitation of older veterans.