Elder Financial Exploitation Explored at Recent Interfaith Roundtable Discussion

The topic of financial exploitation and abuse of older adults was the focus of a recent interfaith roundtable meeting hosted July 30 by the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that works to ensure that everyone is treated fairly by banks, lenders and other financial institutions.

The free, virtual meeting included leaders from several faith groups. The Rev. Beth Long-Higgins, United Church Homes vice president of engagement and a CHHSM board member, represented CHHSM and the United Church of Christ. Also in attendance were representatives from the Episcopal Church, United Methodist Church, as well as Muslim and Jewish organizations.

“As clergy in congregations, and leaders of faith-based organizations, it is important that we take seriously our role as frontline responders to the needs of so many distinct and vulnerable populations,” said Michael Neuroth of the UCC’s Office of Public Policy and Advocacy. “One of those populations that too often gets overlooked are the needs of older adults, who can become prey for those seeking financial exploitation. The Consumer Financial Protection Bureau (CFPB) has launched a new initiative with faith leaders to shine a spotlight on such dangers as a way of helping clergy identify scams and become trusted sources of information. If we aspire to become ‘Beloved Communities,’ it is critical that we attend to the needs of all those in our churches, and in particular the elderly in our midst who so deserve our love, respect and care.” 

The wide-ranging discussion was enlightening for participants, said Benjamin Miller, senior director of community development for ICF, which helped sponsor the event with CFPB, thanks to the exchange of experiences, concerns, and ideas related to protecting older members of faith communities from financial exploitation by people they know or by strangers.

CFPB was “really trying to get a sense of the experience of those who were in attendance, and the needs that we think are not being met,” said Long-Higgins, who also is director of the Ruth Frost Parker Center for Abundant Aging with United Church Homes.. “The unfortunate ‘a-ha’ for me was that everyone agreed that clergy have not been adequately educated about this issue.”

As a result of the discussion, a special, free webinar for leaders in faith-based organizations — and especially clergy — will be held Oct. 16, from 1 to 2 p.m. The webinar will help clergy and other leaders be more effective in protecting older members of their faith communities from exploitation. Topics will include:

• Training on using the “Money Smart for Older Adults” resource from CFPB, with information on preventing on preventing and responding to scams targeting older adults. The resource is available in English and Spanish
• An overview of the word of adult protective services agencies, including addressing concerns that people sometimes have on referring suspected financial exploitation to their local agency.

Registration for the Oct. 16 webinar for clergy and other leaders currently is open.

Check out this toolkit to help identify and prevent such abuse, and this CFPB January 2024 webinar on Elder Justice Collaborations and Faith Communities.