'Money Smart For Older Adults' Provides Valuable Information For All Consumers

On June 12 the Federal Deposit Insurance Corporation ("FDIC") and Consumer financial Protection Bureau ("CFPB") jointly launched a new financial resource tool, "Money Smart for Older Adults", with the goal of helping older adults and their caregivers prevent elder financial exploitation. Money Smart for Older Adults provides information to raise awareness among older adults (defined as age 62 and older) and their caregivers on how to prevent, identify and respond to elder financial exploitation, plan for a secure financial future, and make informed financial decisions. However, the contents of this publication will be useful for all consumers.

Money Smart for Older Adults is available in a downloadable format free of charge on the FDIC website at http://www.fdic.gov/consumers/consumer/moneysmart/Older Adult.html. A participant/resource guide is also available at http://files.consumerfinance.gov/f/201306_cfpb_msoa-participant-guide.pdf.

"Each year millions of senior citizens are targeted for financial exploitation, ... this program will provide a new resource to help older adults avoid being victims of this type of elder abuse" said FDIC Chairman Martin J. Gruenberg. CFPB Director Richard Cordray added: "By working together with the FDIC on Money...