Two U.S. financial regulators on Wednesday launched a new financial resource to help senior adults and their caregivers prevent financial exploitation – and the regulators expect financial institutions that serve the seniors to help in the effort. The resource, Money Smart for Older Adults, was developed to raise awareness on how to prevent, identify and respond to elder financial exploitation, plan for a secure financial future, and make informed financial decisions, said the Federal Deposit Insurance Corporation and the Consumer Financial Protection Bureau. The instructor-led module is designed to be delivered to seniors and their caregivers by representative of financial institutions, adult protective service agencies, senior advocacy organizations, law enforcement and others that serve this population, the FDIC and the CFPB added. The effort is in line with other steps by regulators to ensure that senior citizens and others are not sold overly complex or otherwise unsuitable
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