Regulatory AlertsSR 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. The guidance applies to all financial institutions supervised by the Federal Reserve and offers examples of effective risk management practices for identifying, preventing, and responding to such exploitation without imposing new regulatory requirements. Reserve Banks are directed to distribute this letter to supervised institutions, which may also submit questions via the Board's public website.
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