20th Anniversary · 1999 - 2019

September 20, 2016: Protecting Seniors from Financial Abuse

Medical and Health Considerations
  1. Natalie L. Denburg and William M. HedgcockAge Associated Executive Dysfunction, the Prefrontal Cortex, and Complex Decision Making, in Aging and Decision Making: Empirical and Applied Perspectives 79-101 (2015)  
  2. Natalie L. Denburg, Ph.D. and Lyndsay Harshman, B.S., Why So Many Seniors Get Swindled, The Dana Foundation (Aug. 10, 2009)
  3. Institute of Medicine, NAS, Report Brief, Cognitive Aging: Progress in Understanding and Opportunities for Action (Apr. 2015)
  4. Natalie L. Denburg et al., Self-Evaluation Worksheets Enhance Elder Financial Decision Making

Laws, Regulations, and Related Initiatives

  1. NASAA Press Release on Adoption of the Model Act
  2. NASAA Model Legislation or Regulation to Protect Vulnerable Adults from Financial Exploitation (the “Model Act”) 
  3. NASAA Press Release on Broker-Dealer and Investment Adviser Training Program to Combat Elder Financial Abuse
  4. H.R. 4538, the “Senior$afe Act of 2016”
  5. U.S. House of Representatives, House Passes Three Bipartisan Financial Services Bills, July 6, 2016
  6. CA Assemb. Bill No. 1700, Reverse Mortgage Notifications (Sept. 30, 2014)
  7. FINRA, Regulatory Notice 15-37, Financial Exploitation of Seniors and Other Vulnerable Adults (Oct. 2015)

Recommendations and Observations from Federal Entities and Officials

  1. Rick A. Fleming, SEC Investor Advocate, Speech at the American Retirement Initiative Winter Summit, Feb. 5, 2015, entitled Protecting Elderly Investors from Financial Exploitation, Questions to Consider.
  2. U.S. Gen. Accounting Office, GAO-13-110Elder Justice: National Strategy Needed to Effectively Combat Elder Financial Exploitation (Nov. 2012)
  3. U.S. Consumer Financial Protection Bureau, Recommendations and Report for Financial Institutions on Preventing and Responding to Elder Financial Exploitation (Mar. 2016)
  4. U.S. Consumer Financial Protection Bureau, Report and Recommendations: Fighting Elder Financial Exploitation through Community Networks (Aug. 2016)