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Agencies Clarify Privacy Provisions of Gramm- Leach-Bliley Act When Reporting Suspected Financial Abuse of Seniors

Agencies Clarify Privacy Provisions of Gramm- Leach-Bliley Act When Reporting Suspected Financial Abuse of Seniors

Agencies Clarify Privacy Provisions of Gramm- Leach-Bliley Act When Reporting Suspected Financial Abuse of Seniors 150 150 Rex Securities Law

In September 2014, eight federal agencies (Federal Reserve, Commodity Futures Trading Commission, Consumer Financial Protection Bureau, FDIC, FTC, National Credit Union Admin, Office of the Comptroller and the SEC) issued guidance to financial institutions to clarify applicability of the Gramm-Leach-Bliley Act to reporting suspected financial exploitation of the elderly.

The ACT contains several exemptions allowing the reporting of suspected financial exploitation of seniors and elderly, either at the request of a local, state or federal agency or upon the initiative of the financial institution.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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