Mass. Credit Unions Talk Elder Financial Exploitation at NEACH Conference in Quincy

The New England Automated Clearing House Association concluded its Payments Management Conference 2019 yesterday at the Boston Marriott Quincy, but not before attendees had an opportunity to hear from a panel of experts on the growing threat of elder financial exploitation and the role of banks and credit unions as a line of defense for seniors.

CCUA’s Walt Laskos assembled a select panel of experts for the morning session that saw Barry Armstrong, president of the Armstrong Advisory Group and host of a financial-talk program airing each weekday on the Financial Exchange Radio Network, serve as moderator for the discussion. Panelists included Thomas Quinn, District Attorney, Bristol County, Massachusetts; Michael Festa, State Director, AARP Massachusetts; Jill Carr, Director of Adult Protective Services, South Shore Elder Services; Andrea Cipolla, Chief Director of Credit Union Supervision, Massachusetts Division of Banks; and, Walt Laskos, who rounded out the group.

The hour-long discussion called attention to the many forms of scams and fraud being perpetrated against seniors; the various kinds of resources available to seniors and their caregivers when they fall victim or wish to report a scam attempt, and most important, the educational activities and training being conducted by credit unions to sensitize staff to the issue of exploitation, how to recognize the signs of fraud and what to do in response.

The annual conference attracts an array of banking and credit union executives, strategists, managers, consultants, analysts, technologists, and payments professionals from throughout the financial services sector.