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Prevent and Protect Residents from Financial Exploitation

June 29, 2016

Many older adults and individuals with disabilities can be targets for financial exploitation, a growing form of abuse.  The resources below provide information, tips and guidance on how to create awareness for this important issue and how to protect residents.

Today, the Senate Judiciary Committee held a hearing on Protecting Older Americans from Financial Exploitation.  Connecticut State Ombudsman Nancy Shaffer testified.


Protecting Residents from Financial Exploitation: How Ombudsmen Can Use the New CFPB Guide in Their Work  
Tuesday, August 26, 2014

This webinar discusses the Consumer Financial Protection Bureau's new guide for assisted living and nursing facilities entitled Protecting Residents From Financial Exploitation.  The guide was developed to help operators and staff of nursing facilities and assisted living facilities protect residents from financial exploitation through prevention and early intervention, and outlines ways to create awareness, policies and practices to protect residents. In addition to enhancing LTCO advocacy skills regarding the warning signs of financial exploitation and learning about effective strategies to prevent and respond to such abuse, LTCO can share these tips and the guide with facility staff
Naomi Karp, Policy Advisor, Consumer Fraud Protection Bureau (CFPB) Office of Older Americans provides background on CFPB and the new guide and detail how long-term care ombudsmen can use this new resource to work with facilities to combat financial exploitation.  Iris Freeman, MSW, William Mitchell College of Law details how one state, Minnesota, developed a state-specific manual in 2010 and will provide tips how to replicate that process in your state.

Tips and Tools for Preventing and Responding to Financial Exploitation in Long-Term Care Facilities 
Wednesday, March 5, 2014, 3:00-4:30 ET

This webinar discusses financial exploitation in long-term care facilities and provides tips and resources for preventing, detecting and reporting financial abuse. Naomi Karp, Policy Advisor, Consumer Financial Protection Bureau (CFPB) Office of Older Americans, explains CFPB’s role in the financial protection and education of older adults and shares new resources attendees can use with residents, family members and providers to increase financial literacy and prevent financial exploitation. Ann-Maria Beard, Deputy Director, Office of Supplemental Security Income and Representative Payment Policy of the Social Security Administration discusses the Representative Payee Program, providing an overview of the responsibilities and oversight of representative payees and how attendees can support the rights of Social Security and Supplemental Security Income (SSI) beneficiaries and report suspicion of misuse of benefits by a representative payee. Additionally, webinar participants discussed a scenario involving potential financial exploitation and shared challenges and best practices related to responding to allegations of financial exploitation. New consumer facts sheets regarding the prevention, detection and reporting of financial exploitation in nursing home and assisted living facilities produced by the National Consumer Voice for Quality Long-Term Care (Consumer Voice) for the National Center on Elder Abuse (NCEA) were introduced.

NEW Consumer Voice Fact Sheets

Consumer Factsheets on Financial Exploitation (February 2014)
Developed in part through a grant from the Administration on Aging for the National Center on Elder Abuse (NCEA), these fact sheets discuss the prevention, detection and reporting of financial exploitation in assisted living and nursing homes. There are separate fact sheets for residents of assisted living facilities and nursing homes and their family members. The consumer fact sheets provide an overview of residents’ rights and facility responsibilities related to resident finances, tips for protecting themselves and how to report incidents of financial abuse. The fact sheets for family and friends of residents also review residents’ rights and facility responsibilities, highlight warning signs and how to report incidents of financial exploitation.

Assisted Living Facilities

Nursing Homes

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