The Consumer Financial Protection Bureau’s (CFPB’s) Office for Older Americans is offering a new webinar on protecting older adults from financial exploitation:

Mild cognitive impairment, which often goes undiagnosed in older adults, can adversely affect financial decision-making, leaving vulnerable adults at risk for financial exploitation. Financial exploitation is the most common form of elder abuse, and the research suggests a change in financial management and skills may be an early indicator of cognitive decline. Although a person may be able to perform simple tasks such as writing checks or paying bills, they may have difficulty with more complex tasks such as balancing a checkbook or managing investments. 

Advances in the neuroscience of cognition and aging can help family members and professionals recognize the signs of poor monetary management and take steps to respond to and prevent the financial risks associated with early cognitive decline. Those research findings can be used to inform the work of law enforcement, adult protective services, financial institutions, clinicians, and other service providers. They are also relevant to older adults, themselves, who can be empowered to take steps to protect their financial well-being.

The webinar will feature presentations by:

• Dr. Nancy Hoffman, geriatric neuropsychologist: As an expert and practitioner specializing in the neuropsychological assessment of cognition in older adults, Ms. Hoffman will share insights into cognitive capacity and how it relates to vulnerability to financial exploitation of older adults.

• Lisa Schifferle, CFPB’s Office for Older Americans: Ms. Schifferle will share resources for people considering a financial caregiver for a loved one experiencing cognitive decline.