Banking Industry to Fight Elder Financial Abuse Through Training, Education; State's Largest Banking Trade Association Calls for Mandatory Training of Bank Personnel to Reduce Elder Financial Abuse.

SACRAMENTO, Calif. -- The California Bankers Association has outlined its approach to ending elder financial abuse - the mandated training of all customer-facing bank employees to spot, report and hopefully prevent the crime.

"We have done extensive research to find out specifically what leads to an increase in the number of elder financial abuse reports being filed by banks," said CBA president and CEO Janet Lamkin. "The answer is education and training. In states that have embraced education and training, the number of elder financial abuse reports to law enforcement and adult protective services agencies has increased dramatically."

The banking industry is sponsoring AB 1664 (Gordon), a measure that would make California the first state in the Union to require its bank employees to be trained to identify, report and prevent elder financial abuse. Competing bills would require banks and their employees to become "mandated reporters" of suspected cases of elder financial abuse - and would institute both criminal and civil penalties for failure to report.

"Banks will continue to play an integral role in the identification and prevention of elder financial abuse," said Lamkin. "But the idea of forcing banks and bank tellers to become 'mandating reporters' does nothing to actually help consumers and keep their assets safe. To end financial abuse we have to keep money out of the hands of fraudsters, not create reports after-the-fact."

In addition to its legislative proposal, CBA is currently offering training materials, including a written manual and training video, free-of-charge on its Web site (www.calbankers.com). Financial institutions and consumers alike are encouraged to access these materials to learn more about spotting possible elder financial abuse schemes and what can be done to help senior Californians avoid becoming victims of this crime.

Information about CBA

Established more than 110 years ago, the California Bankers Association (CBA) is one of the largest state banking trade associations in the country. CBA leads the way in developing relevant educational and legislative solutions to some of California's more pressing financial and banking issues, including adult financial empowerment, identity theft, financial privacy, and financial elder abuse. CBA's membership includes more than 300 of California's commercial, industrial and community banks and savings associations.