ABA Foundation Publishes Guide on Financial Exploitation of Seniors – NMP
Industry News

ABA Foundation Publishes Guide on Financial Exploitation of Seniors

Jun 22, 2018
In its quarterly NRMLA/RiskSpan Reverse Mortgage Market Index, the National Reverse Mortgage Lenders Association (NRMLA) reports that homeowners 62 and older saw their housing wealth grow by 1.6% or $120 billion in Q1 of 2020 to a record $7.54 trillion

The American Bankers Association (ABA) Foundation has published a guide designed to help banking professionals identify potential financial exploitation of seniors.
 
The new guide “Protecting Seniors: A Bank Resource Guide for Partnering with Law Enforcement and Adult Protective Services” was developed in collaboration with input from the National Sheriffs’ Association, National Adult Protective Services Association and the Consumer Financial Protection Bureau. The guide offers insight on financial abuse aimed at seniors, which is estimated as being at an annual level of $2.9 billion.
 
“Keeping seniors’ money safe is a top priority for our nation’s banks,” said Corey Carlisle, ABA Foundation Executive Director. “Our hope is that this resource guide will help the industry foster improved communication and education among Adult Protective Services and law enforcement, which are key elements in preventing elder financial abuse.
 
“Banks are important community resources in the fight against elder fraud,” said Ed Hutchinson, Director of Traffic Safety, Triad and Officer Safety at the National Sheriffs’ Association. “Rapport built between banks and law enforcement before a critical incident can speed up investigations and will help us address cases. The guide will not only support law enforcement efforts but will have a tremendous impact on the most vulnerable people we serve.”
 
The focus on elder abuse is gaining greater attention within the financial services industry. Earlier this week, the National Reverse Mortgage Lenders Association published its own free guide to call attention to financial exploitation of seniors.
 
About the author
Phil Hall
Link copied
Published
Jun 22, 2018
Get the NMP Daily
Home Equity
Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Continue reading
Analysis and Data
Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026