Two Associations Join Arms
Older adults lose $2.9B annually to fraud. So two of the biggest associations that represent older people and money (but not necessarily old money) are joining forces through the Clinton Global Initiative. AARP and the American Bankers Association will spend two years researching fraud, financial caregiving, and age-friendly banking. They’ll create resources for bankers on fraud prevention and help banks make branches age-friendly. Bankers will also help older Americans and their caregivers protect their assets during retirement. The campaign’s goal is to reach one million older Americans. ABA president/CEO Frank Keating says America’s aging population will change the way banks provide financial services.