AFSA Publishes Elderly and Vulnerable Adult Financial Exploitation White Paper

On May 1, AFSA’s State Government Affairs department published its May white paperPreventing Financial Exploitation of Elderly and Vulnerable Adults. As issues surrounding financial exploitation of elderly and vulnerable adults continue to come up in state legislatures around the country, AFSA’s white paper examines the challenges financial institutions face when preventing such exploitation. The white paper looks at federal guidelines for financial institutions and recent state efforts on the issue, including proposals allowing financial institutions exemptions from privacy laws in order to report suspected exploitation. AFSA’s paper also includes an overview of some misconceptions regarding elderly exploitation and reverse mortgages.

AFSA’s State Government Affairs team publishes white papers monthly, and members can find previous white papers on AFSA’s website under the SGA Resources section.