Joint Release/FDIC and CFPB Collaborate to Develop a Spanish-language Tool for Older Adults to Prevent Financial Exploitation — 2014-10-07

FDIC and CFPB Collaborate to Develop a Spanish-language Tool for Older Adults to Prevent Financial Exploitation The Federal Deposit Insurance Corporation (FDIC) and Consumer Financial Protection Bureau (CFPB) today launched a Spanish-language version of Money Smart for Older Adults. This free financial resource tool is designed to help aid older adults (age 62 and older) and their caregivers prevent, identify and respond to elder financial exploitation, which affects millions of senior citizens each year, with only a fraction of incidents reported. "We know that senior citizens are increasingly targeted for financial exploitation," said FDIC Chairman, Martin Gruenberg. "With nearly four million Spanish-speaking older adults across the country, this tool adds a new resource to help Spanish-speaking seniors prevent, respond to, and report abuse." "We must do all we can to prevent financial exploitation of older Americans," said CFPB Director Richard Cordray.