The filing deadline to claim the Small Business Health Care Tax Credit for the 2015 tax year is coming up on May 15, which could lead to big savings for eligible small credit unions. Plus your question on the CFPB’s credit card agreement submission expiration, and this week’s legal briefs.
How is “financial exploitation” defined in Washington State?
The NCUA is offering valuable resources on identifying and reporting financial abuse of older credit union members.
Credit unions may be the best advocates and watchdogs elder members have to protect them against fraud. Our compliance report details the signs of potential fraud staff should look for, and share CFPB guidance giving credit unions some latitude reporting potential abuse. This is a must-read for staff serving elder members.
Your weekly update on the regulatory landscape includes updates on elder abuse as well as a synopsis of Richard Cordray’s plans for the CFPB’s future.
Oregon Gov. John Kitzhaber has called legislators back to Salem for a special session beginning Monday, Sept. 30. On the agenda: an agreement between the governor and legislative leaders to increase school funding by $140 million. The special session comes on the heels of the last week’s Interim Legislative Days, when the Oregon Legislative Assembly held three days of “informational hearings” on legislation that passed in 2013.
Mary Sroufe will be leading a breakout session at Convention on dealing with elder financial abuse. Here she outlines the basics of financial abuse and offers simple tips to help credit unions identify and curb incidents among membership.
The CFPB is hoping to learn more about the many ways in which older Americans are financially exploited and about the best practices for elder financial management.
Credit unions are uniquely positioned to help prevent financial abuse, and communities around the world and throughout Oregon will work to raise awareness of elder abuse, neglect and exploitation on June 15 as part of World Elder Abuse Awareness Day.
Credit union employees are often the first line of defense protecting elders from financial abuse. New Oregon legislation protects senior citizens while improving law enforcement’s ability to investigate and prosecute such cases.
The state of Oregon recently passed H.B. 4084, which modifies the way crimes against vulnerable persons are handled and affects requirements for credit unions subject to court summons or subpoenas in such cases.
The Oregon Legislature adjourned its 35-day legislative session on March 5 having rebalanced the July 2011-June 2013 budget and approved dozens of policy measures, including expanding eligibility for Oregon’s Credit Enhancement Fund.