Credit/Shutterstock

Five federal financial regulatory agencies including the NCUA and CFPB, along with the Financial Crimes Enforcement Network (FinCEN) and state financial regulators issued a joint statement Wednesday outlining eight ways credit unions and other financial institutions can help prevent and mitigate financial exploitation of their older members and customers.

FinCEN, state financial regulators and the issuing agencies – which also included the Board of Governors of the Federal Reserve System (FRB), FDIC and Office of the Comptroller of the Currency – emphasized that their statement was not intended to establish new regulatory requirements or supervisory expectations, but to raise awareness and provide strategies to supervised institutions for combating elder financial exploitation, consistent with applicable legal requirements.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2025 ALM Global, LLC. All Rights Reserved.