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Alert! Federal Regulatory Agencies Issue Guidance on Elder Programs

On December 4, 2024, the federal regulatory agencies issued a joint statement to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation. Learn what you need to know and do in light of this new guidance.

OnDemand
Recorded Thursday,
January 16th, 2025
Presented by Deborah Crawford
2h total length
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • BSA
  • Compliance
  • Customer Service
  • Deposit
  • Lending
  • Management/Employee Development
  • Bank Secrecy Act Officer/BSA Specialist
  • Board Member
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Deposit Operations Manager/Specialist
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Risk Manager
  • Senior Management
  • Teller
  • Training Manager
  • Trainer

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Elder financial exploitation is the illegal or improper use of an older adult’s funds or other resources for the benefit of an unauthorized recipient. It can deprive older adults of their life savings in whole or in part, devastate their financial security, and cause other harm.

In the joint statement made on December 4, 2024, the agencies provide information and examples of risk management and other practices that supervised institutions could consider adopting to combat elder financial exploitation. By issuing the joint statement, the agencies intend to raise supervised institutions’ awareness of, and provide strategies for, addressing elder financial exploitation.

What You'll Learn

  • Creating risk-based policies, ongoing monitoring practices, and complaint processes to identify, measure, monitor, and mitigate elder financial exploitation
  • Provide training for employees on recognizing, deterring, addressing, and responding to elder financial exploitation
  • Transaction holds and disbursement delays can help supervised institutions prevent and respond to various situations that may involve elder financial exploitation, when used appropriately and in compliance with applicable laws and regulations
  • Establishment of trusted contact
  • Filing of SARSs
  • Find state law requirements
  • How to work with law enforcement
  • Engage with elder fraud prevention and response networks that include professionals from various agencies and organizations
  • Resources to share with elder account holders

Who Should Attend

This session is ideal for BSA, compliance, complaint management, deposit and loan operations, branch staff, training, and all customer service personnel.

Deborah Crawford

Instructor Bio

Deborah Crawford is the President of Gettechnical Inc., a Florida based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor's and master's degrees from Louisiana State University. She has 35+ years of combined teaching and banking experience.

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