Credit Unions Tell DOJ Where Elder-Fraud Fight Is Falling Short
By CU Today Staff —
WASHINGTON--Credit unions took part in the first of two joint listening sessions with the Department of Justice to address elder financial exploitation. America’s Credit Unions convened and hosted the session with participation from the DOJ as part of its Elder Justice Initiative.
Sharing what they are experiencing on the front lines in their credit unions, participants highlighted their efforts in protecting members from scams and the government policies that could help them, ACU said.
The session this week addressed fraud trends, internal credit union response, authority to hold or decline transactions, reporting and coordination with agencies, balancing member protection with member autonomy, and training and policy improvements.
According to ACU, credit union participants shared:
Originally reported by CU Today.