Answer:
Community financial institutions struggle when deciding if they should close a senior person’s account. They are worried about how this might look to the local community or even family members. When a senior cannot handle their accounts and family won’t interfere with their parents’ affairs, problems lie ahead. When a senior citizen threatens staff or refuses to stop becoming involved with scams, the message is clear: close the accounts. The worst headline or social media post is “Senior citizen loses money at XYZ Financial.”
-------------------------
Learn more about Barry Thompson’s Understanding Elder Fraud webinar.