Newsroom

June 08, 2020

CFPB resources help older Americans navigate the pandemic

CFPBAs the coronavirus pandemic continues to impact the nation, vulnerable populations such as older Americans remain extremely susceptible to financial abuse. NAFCU staff spoke with the CFPB's Office of Older Americans last week and is now seeking feedback from credit unions on financial abuse trends or areas where additional resources could benefit members.

Credit unions are encouraged to contact Kaley Schafer, NAFCU regulatory affairs counsel, with comments on this topic via email at kschafer@nafcu.org.  

The CFPB’s Office of Older Americans has published various resources covering a wide-range of topics related to the pandemic, including:

Access all the bureau's coronavirus-related resources here.

For more on this topic, a recent post on the Compliance Blog tackles how to mitigate elder financial abuse risk and highlights guidance issued throughout the pandemic from several federal regulators, including the Financial Crimes Enforcement Network, FDIC, and IRS.