Consumer Financial Protection Bureau (CFPB): Elder Financial Abuse Is Widespread
According to the CFPB, the nation's largest private financial institutions state that they have received massive amounts of elder financial fraud. They report more than $6 billion in elder financial fraud between 2013 and 2017. Even more alarming, the agency cautions that the true extent of senior citizen financial abuse is almost undoubtedly far higher. Elder financial exploitation goes systemically underreported. The CFPB estimates that there were more than 3.5 million incidents of elder financial exploitation in 2017 alone.Elder financial...
View full press release