U.S. targets financial abuse of elderly

Americans over 60 lost at least $2.9 billion in 2010 to financial exploitation, a MetLife study. This 12% rise over two years is leading the Consumer Financial Protection Bureau to begin looking into the types of scams affecting older consumers, states the LA Times. Federal regulators launched an investigation into the financial abuse of the elderly, citing a new report that advisors, planners, family members and others were ripping off seniors more than ever. The rise in abusive tactics led the Consumer Financial Protection Bureau to begin looking into the types of scams affecting older Americans and coming up with…

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