Office of Financial Protection for Older Americans

Posted by on February 13, 2012

New office dedicated to financial protection of seniors

The newly formed Consumer Financial Protection Bureau has started an Office of Financial Protection for Older Americans.

The focus of this new office is to help older consumers address financial exploitation, protect their homes, fight fraud and scams, improve their financial literacy, as well as plan for retirement and long term care needs. According to its website, the Office of Financial Protection for Older Americans plans to:
* Give seniors the tools they need to make educated financial choices
* Coordinate efforts to help seniors across a wide spectrum of interest groups
* Gather research and information about trends and bad practices to help policymakers and the financial services industry address seniors’ needs
* Protect against false and deceptive designations of financial counselors to make sure seniors have access to qualified financial advice.

The website already includes many useful resources.

http://www.consumerfinance.gov/older-americans/additional-resources

In addition, the National Council on Aging has archived a webinar about the new office.

http://www.ncoa.org/calendar-of-events/cfpbs-office-of-financial.html