Banks get help from AARP to spot elder abuse
Elder abuse costs banks $1 billion in deposits a year, according to AARP. It has launched a video-game-style online training program that teaches bank employees what to be alert for. ... Read full article
News Topic: Seniors
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Will Q3 profits kill reg relief?; Protecting elderly depositors
Record bank profits could make it tougher to get more regulatory relief; banks monitoring older clients’ mental health. ... Read full article
6 fintechs targeting seniors and their families
Savvy fintechs are providing automated advice, dashboards and financial monitoring for families of people over 50. ... Read full article
FHA lenders warming up to reverse mortgages for new home purchases
Recent developments in the Federal Housing Administration's Home Equity Conversion Mortgage program are making it easier for lenders to originate reverse mortgages to borrowers who want to buy a new-construction home. ... Read full article
Forget millennials: Baby boomers need app innovation, too
Theodora Lau, director of market innovation at AARP, says financial companies and fintechs should consider the over-50 crowd in their app designs. ... Read full article
No one should have to rely on payday loans in retirement
Data showing that California residents 62 and older took out more payday loans than any other age group in the state points to an erosion of retirement security for seniors. ... Read full article