Banks new worry: Elder abuse

Consumer banks are facing more concerns and irate politicians when it comes to the tricky issue of elder abuse. About 20 states have imposed new laws holding banks accountable for willfully ignoring evidence of financial abuse of elderly clients, according to U.S. Banker. This is an issue that you ignore at your peril. Your brand has a lot riding on it. Many banks are starting to respond. Wells Fargo has been out in front. It apparently created a "centralized reporting unit" this year to coordinate the myriad laws its branches must follow. Training is starting to become more common. So you may want to think about rolling out whatever programs are necessary, including a consumer outreach program. In some ways, you can turn this to your advantage from a marketing perspective.  

For more:
- here's the article from U.S. Banker