DE Deputy Attorney General Updates Small CUs on Elder Financial Exploitation

Delaware’s small credit unions (<$100 M) met on Monday evening at the Association office in Newark for a presentation on elder financial abuse from Deputy Attorney General Regina S. Schoenberg, Consumer Protection Unit, Department of Justice. Schoenberg reviewed financial exploitation of older adults, including fraud and scams that target this population, and provided and tips and resources on identifying and reporting suspected abuse.

Carole Langiu, CCUA’s Director of Communication & Governmental Affairs, reminded the credit union professionals that CCUA’s CU Senior Safeguard initiative provides their staff with the certification necessary for protections offered under recently passed legislation, S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act. Section 303 of the bill provides immunity from liability to certain individuals employed at financial institutions who, in good faith and with reasonable care, disclose the suspected exploitation of a senior citizen to a regulatory or law-enforcement agency.

Open discussion and networking followed the presentation.

Delaware credit unions were represented by Ally Fed, American Spirit, DEXSTA, edU and Priority Plus Federal Credit Unions.