Money Smart for Older Adults

msoaThe FDIC and CFPB have released a new consumer education product: Money Smart for Older Adults (MSOA). MSOA is a new instructor-led training module that provides awareness among older adults and their caregivers on how to prevent elder financial exploitation and to encourage advance planning and informed financial decision-making. MSOA is a tool for bank-community partnerships. For example, bank staff could deliver this information in collaboration with providers of senior services or adult protective services.

There are seven segments covering the following topics:

  • Common Types of Elder Financial Exploitation;
  • Scams Targeting Veterans;
  • Identity Theft;
  • Medical Identity Theft;
  • Scams that Target Homeowners;
  • Planning for Unexpected Life Events; and,
  • How to Be Financially Prepared for Disasters.

For more information on MSOA click here.


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