Compliance Audit Series: Elder Financial Abuse & Other Deceptive Practices
The CFPB recently issued recommendations on preventing, recognizing, reporting and responding to financial exploitation of older Americans.
Having an effective program in place to address elder financial abuse and other deceptive practices is a priority.
The CFPB’s recommendations represent “best practices” for financial institutions. Those that fail to implement a robust elder financial abuse prevention program could be targeted for UDAAP violations. Having an effective program in place to monitor and identify potential elder financial abuse and other deceptive practices is the key to successful risk management and satisfying regulatory requirements.
- Governance and reporting
- Monitoring and testing
- State differencs based on where customers are domiciled
- Accounts with power of attorney or attorney in fact provisions
- Unusual balance transfers
Bank professionals seeking knowledge of effective compliance monitoring programs, including compliance officers, auditors, risk managers, lenders, deposit/operations personnel and management.
Naill K. Twomey, CRCM, senior manager in the regulatory compliance risk group with Crowe Horwath LLP, has 19 years combined financial institution and compliance consulting experience and has managed and conducted numerous compliance audit and risk assessment initiatives for community-based financial institutions. Niall leads the firms Fair Lending initiatives.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session
Member price: $275.00 | Non member price $550.00
Member price: $295.00 | Non member price $590.00
Online: Visit the CBA Webinar Catalog
Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)
1516 Xavier St., Ste 500, Denver, CO 80204
Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)
- Preferred Payment Method: Online
- Please register online or by phone when paying with a credit card
- Payment Must Accompany Registration – Invoices are Not Provided
Register online up to day of event. Earlier registration allows time to check your computer for an optimal experience.