Preventing Exploitation Of Investors With Diminished Capacity
Law360 (July 8, 2019, 3:34 PM EDT) -- According to the Population Reference Bureau, 46 million Americans were aged 65 and older as of January 2016. This number is expected to more than double, to over 98 million, by 2060. Unsurprisingly, the aging population is driving up the number of older investors, which has resulted in an increased incidence of financial exploitation.
Indeed, while it is difficult to ascertain the total costs to victims of elder financial exploitation, a 2016 study done by the New York State Office of Children and Family Services estimated victims’ annual losses at $109 million. With this in mind, lawmakers and regulators have taken steps to stem...
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