CFPB Puts Financial Advisers For Seniors In Its Crosshairs

Law360, New York (April 18, 2013, 5:53 PM EDT) -- The Consumer Financial Protection Bureau said Thursday that the “bewildering” array of financial advisers seeking to provide services to seniors presents a serious risk of fraud against a vulnerable population and calls for tighter rules on the market.

According to a CFPB report, there are over 50 different types of financial professionals that receive a special designation to provide services to senior citizens. But those designations are primarily designated by an acronym added after an individual's name that does not provide any clear information about the...
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