Aging and Financial Victimization: How Should the Financial Service Industry Respond?

By Marguerite DeLiema and Martha Deevy Elder financial victimization is a growing problem facing older Americans. As the conduits of financial transactions, financial firms are positioned to stop losses at their source. Representatives at small and large firms were interviewed to describe their financial exploitation training and prevention programs, their detection and response protocols, and how they balance the goals of client protection with the client’s right to autonomy and privacy in financial decision-making. Representatives from regulatory agencies were interviewed...