FDIC: Tool Enhanced to Prevent Elder Financial Exploitation
The Federal Deposit Insurance Corporation (FDIC) today announced the release of a Spanish-language version of Money Smart for Older Adults. The curriculum, now offered in English and Spanish, has been updated to provide new information and resources to help older adults and their caregivers recognize and prevent fraud, scams, and other types of financial exploitation….
ABA: Foundation Honors Six Banks with Community Commitment Awards
Categories range from affordable housing to economic inclusion The American Bankers Association Foundation today announced it will honor six banks with a Community Commitment Award, which is provided to institutions that have demonstrated leadership in the area of corporate social responsibility. The ABA Foundation will recognize these banks’ efforts in categories ranging from affordable housing…
ABA: Foundation Released Bank Guide for Preventing Elder Financial Abuse
Resource available in advance of World Elder Abuse Awareness Day on June 15 Seniors lose approximately $2.9 billion annually to financial abuse – and with baby boomers retiring every day, along with an estimated $12 trillion in wealth transfers expected to take place between generations, that number could continue to grow. In response, America’s banks…
CFPB: Share Financial Information with Your Spouse Now to Avoid Problems Later
It’s common for couples to share their financial lives but not the responsibility for managing household finances. It might be time-consuming for both of you to review your bills, as well as spending and savings plans each month. But if responsibilities unexpectedly shift due to a sudden illness or loss of a spouse, getting up…
ABA: Community Commitment Awards Submissions Currently Open with ABA Foundation
Deadline for entries is June 29 The American Bankers Association Foundation is requesting submissions for its annual Community Commitment Awards to recognize banks’ essential involvement in their communities. The awards will honor innovative, high-impact bank programs that improve the quality of life for the customers and communities they serve. The entry period will extend to…
Census Bureau: Older People Projected to Outnumber Children by 2030
2030 Marks Important Demographic Milestones for U.S. Population The year 2030 marks an important demographic turning point in U.S. history according to the U.S. Census Bureau’s 2017 National Population Projections. By 2030, all baby boomers will be older than age 65. This will expand the size of the older population so that 1 in every 5…
CFPB: How to Save for Emergencies and the Future
If your car broke down or you had an unexpected trip to the hospital, would you be able to cover the costs? If you don’t have savings, you could wind up borrowing money at high interest rates, which means you’ll owe even more in the long run. You could end up with credit card debt…
ABA: America’s 2 Million Bankers Encouraged to Register for ABA Foundation’s 2018 Financial Education Initiatives
ABA Foundation programs call for banker volunteers to join growing, industry-wide efforts designed to help local communities The American Bankers Association Foundation today launched its 2018 financial education registration campaign, calling on banker volunteers from across the country to register for a range of successful, industry-wide programs designed to enhance financial education in their local…
CFPB: This Holiday Season, Don’t Let Scammers Take Advantage of Your Generosity
Protecting your money is always a big deal. But keeping an eye on your wallet and everything in it becomes even more important during the holiday season when many people are buying gifts and giving generously to those who are less fortunate. Charity scams often pop up during this time of year as scammers attempt…
ABA: Foundation Releases Inaugural Survey Detailing Bank Efforts to Serve and Protect Seniors
In recognition of Family Caregivers Month, the ABA Foundation released its inaugural Older Americans Benchmarking Report, an unprecedented survey detailing how banks across the country are working with seniors and their financial caregivers to address the growing threat of elder financial fraud. To produce the report, the ABA Foundation surveyed 103 banks of all sizes…