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Financial abuse of aging Americans has exploded into a multibillion dollar a year problem, and credit unions aim to stop it. According to research from the insurance provider MetLife, Americans over the age of 60 lost about $2.9 billion dollars from financial abuse in 2010, up 12% from the $2.6 billion lost in 2008. Credit unions are taking several steps to curb this escalating problem, including staff training to identify and report abuse, instituting new computer programs that can recognize irregular activity, and reaching out into the community to help educate vulnerable members about avoiding theft and fraud.

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