Did you know that financial exploitation results in older Americans losing an estimated 2.9 billion dollars annually? It is estimated that for each case that is reported, 43 others go unrecognized.
Now there is a new tool available to help older consumers and their loved ones prevent financial fraud and exploitation. The Consumer Financial Protection Bureau and the Federal Deposit Insurance Corporation (FDIC) have teamed up to develop a consumer guide and program based on the FDIC’s successful Money Smart program.
It is called Money Smart for Older Adults.
Learn more about Money Smart for Older Adults and other resources for older Americans at www.consumerfinance.gov/older-americans.