National Credit Union Foundation to focus on elder fraud in recognition of Older American’s Month.
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.
More than 30 credit union educators attended a Financial Education Best Practices Roundtable in Eugene Wednesday, sharing in the “secret sauce” of financial literacy. The NWCUA’s Financial Education Committee and the Northwest Credit Union Foundation will use the presentations to build an online resource library for educators.
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 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.