The Consumer Financial Protection Bureau (CFPB) Office for Older Americans is offering new webinars for caregivers and others on protecting older adults from financial exploitation. Register for the entire "Elder Justice" series and you'll be sent an email link shortly thereafter..
The 2025 series includes:
Protecting Older Adults from Check Fraud – Thursday, January 16, from 1- 2:30 PM
Check fraud is a big problem nationwide, with more than $688 million in reported suspicious activity in a recent six-month period. Check fraud is an especially significant threat to older adults, three quarters of whom report using checks. The webinar will feature presentations by experts from the Federal Trade Commission, United States Postal Inspection Service, and Consumer Financial Protection Bureau that will provide information to protect older adults from check fraud.
Cognitive Decline and Financial Exploitation in Older Age – Wednesday, February 12, 1-2:30 PM
Mild cognitive impairment, which often goes undiagnosed in older adults, can adversely affect financial decision-making, leaving vulnerable adults at risk for financial exploitation. Financial exploitation is the most common form of elder abuse and research suggests a change in financial management and skills may be an early indicator of cognitive decline. Although a person may be able to perform simple tasks such as writing checks or paying bills, they may have difficulty with more complex tasks such as balancing a checkbook or managing investments. Advances in the neuroscience of cognition and aging can help family members and other caregivers recognize the signs of poor monetary management and take steps to respond to and prevent the financial risks associated with early cognitive decline. Those research findings can be used to inform the work of law enforcement, adult protective services, financial institutions, clinicians, and other service providers. They are also relevant to older adults themselves, who can be empowered to take steps to protect their financial well-being. The webinar will feature presentations by experts in the field of aging and cognition.
Social Isolation and Financial Exploitation in Older Age – Wednesday, March 5, 1-2:30 PM
Many people are socially isolated and regularly feel lonely, according to the National Institutes of Health. Older adults are at higher risk for social isolation and loneliness due to changes in health and social connections that can come with growing older, including hearing, vision, and memory loss; disability; trouble getting around; and the loss of family and friends.
Researchers who study elder abuse are finding that loneliness and dissatisfaction with personal relationships, along with an increase in digital technology usage, has significantly increased vulnerability to scams and other forms of elder financial exploitation. The webinar will feature emerging research, as well as innovative programs, which shed light on interventions that may protect older adults from financial exploitation.
Government Imposter Scams and Older Adults – Thursday, March 6, 1-2:30 PM
In government imposter scams, criminals contact consumers pretending to be from government agencies. This webinar will look at how to help older adults spot, avoid, and report these scams. The webinar will feature experts from the Federal Trade Commission, Securities and Exchange Commission, Consumer Financial Protection Bureau, and U.S. Postal Inspection Service.
Solar Financing and Consumer Protection for Older Adults – Tuesday, April 15, 2-3 PM
The market for residential solar panels continues to grow. With that growth, marketing and door-to-door sales of solar-related financial products have become more prevalent. In some cases, “solar-specific” loans marketed to consumers present risks, such as hidden markups and fees, misleading tax credit information, unexpected prepayment requirements, exaggerated financial benefits, as well as fraud and scams. This presentation by CFPB experts in solar financing and consumer protection will help professionals and older adults make informed decisions about solar financing.
Reverse Mortgages, Home Equity Investment Products, and Consumer Protection for Older Adults – Thursday, May 15,2-3 PM
Making informed choices about using home equity to pay for retirement costs begins with understanding the products. This webinar will focus on two products commonly offered to older adults: (1) Reverse mortgages, which are a special type of home loan typically for homeowners aged 62 or older. With reverse mortgages, borrowers don’t make monthly mortgage payments but are charged interest and fees, and the balance due goes up – not down – over time. In general, the loan must be repaid when the borrower no longer lives in the home. (2) Home equity investment products, also known as home equity sharing agreements, which are financial agreements in which a homeowner gets an upfront cash payment in exchange for a percentage of their home’s future value or future price appreciation. This presentation by CFPB experts will look at how these products work, what questions to ask, and what risks to consider. The webinar will help professionals and older adults make informed decisions about their home equity and how to avoid fraud and scams.