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elder financial abuse

Dec 14, 2020

New FINRA Rule Aimed at Preventing Financial Advisors’ Exploitation of Senior Clients

Recently, the Financial Industry Regulatory Authority (FINRA) issued a new regulation to protect investors from unscrupulous financial advisors and brokers. Rule 3241 limits the ability of a broker-dealer to be named as a beneficiary, executor, trustee, or power of attorney for one of their customers.» Read More

Aug 01, 2019

CFPB Issues Warning on Elder Financial Abuse Reporting

Recently, the Consumer Financial Protection Bureau was the latest government agency to issue an advisory to financial institutions regarding the financial exploitation of older Americans. The update urges financial institutions to make a report whenever they suspect that an older adult is the target or victim of financial exploitation.» Read More

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