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Five federal financial regulatory agencies including the NCUA and CFPB, along with the Financial Crimes Enforcement Network (FinCEN) and state financial regulators issued a joint statement Wednesday outlining eight ways credit unions and other financial institutions can help prevent and mitigate financial exploitation of their older members and customers.
FinCEN, state financial regulators and the issuing agencies – which also included the Board of Governors of the Federal Reserve System (FRB), FDIC and Office of the Comptroller of the Currency – emphasized that their statement was not intended to establish new regulatory requirements or supervisory expectations, but to raise awareness and provide strategies to supervised institutions for combating elder financial exploitation, consistent with applicable legal requirements.
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
