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Elder Financial Care Program

Bank of America Corp (Honorable Mention) - Charlotte, North Carolina

2021 Community Commitment Awards Submission

  • Entry Category: Protecting Older Americans
  • Asset Size: Large

Purpose

Recent studies suggest that financial exploitation — the illegal or improper use of an older adult's funds, property or assets — is the most common form of elder abuse. To meet the unique needs of our older clients, Bank of America created a dynamic, multi-layered Elder Financial Care program. The program demonstrates our commitment to provide our elder clients with the security and peace of mind by helping protect their assets, while simultaneously giving them the means to maintain control. Our comprehensive Elder Financial Care program addresses the challenges of elder financial exploitation (EFE) with a specific focus on innovation & education, protection, and risk mitigation.

Bank of America maintains a dedicated section on the bankofamerica.com website with tools, products and services clients can use to help guard against financial exploitation, learn and build greater financial security, and solutions to help elderly clients better protect their financial assets. It is unique in that it includes caregiving resources as well as educational tools for protection and security. It also serves as a hub for information, financial education from Better Money Habits®, the Consumer Financial Protection Bureau, the Department of Justice, the U.S. Dept. of Aging, and AARP.

Below are links to our Website and additional resources: