Regulatory Alerts2024-12-05 | SR 24-8SR 24-8: Interagency Statement on Elder Financial Exploitation
The Board of Governors of the Federal Reserve System, along with five other federal agencies and state regulators, issued an interagency statement to raise awareness and provide strategies for combating elder financial exploitation. This guidance is relevant for all financial institutions supervised by the Federal Reserve and offers examples of effective risk management practices for identifying, preventing, and responding to such exploitation. The document explicitly states that it does not interpret or establish new compliance standards, regulatory requirements, or supervisory expectations.
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