New FINRA Rules Provide Big Benefits in the Fight Against Financial Exploitation

New FINRA Rules Provide Big Benefits in the Fight Against Financial Exploitation

The fight against the financial exploitation of older Americans is about to get a whole lot easier.


The 50+ are prime targets of financial exploitation because they own 67 percent of U.S. bank deposits – and because factors including health status, cognitive ability, and social isolation can make them more vulnerable. Beginning February 5, the Financial Industry Regulatory Authority (FINRA) will enact a pair of rules that will provide brokers with additional tools to protect their older clients and help stop financial exploitation.


The first rule tackles the threat by helping to ensure more older Americans have a trusted third-party who can be notified if problems arise or suspicious activities are observed with their financial accounts. Rule 4512 will require brokers to ask clients to designate a trusted contact the broker can contact in case of any problems, including financial exploitation. This designee will not be able to access any private information about the account, but the broker can alert the designee if something is potentially wrong. Clients will not be required to provide a trusted contact; under the rule, brokers are just required to ask.


The other rule slated to take effect, meanwhile, captures the benefits of brokers’ unique vantage point to spot dubious activity; the rule will allow brokers to delay payments from an account if something seems amiss. Specifically, Rule 2165, a “safe harbor rule,” gives a broker who suspects exploitation the ability to put a 15-day hold on any payments while the firm investigates. This hold can be extended another 10 days if necessary. Strengthening the ability to stop exploitation before it happens is crucial, particularly because it is nearly impossible to recover money once it leaves the account.


“These rules will provide firms with tools to respond more quickly and effectively to protect seniors from financial exploitation,” FINRA President and CEO Robert W. Cook said in a news release. “This project included input and support from both investor groups and industry representatives and it demonstrates a shared commitment to an important, common goal – protecting senior investors.”


The changes are built on the foundation of principles also central to BankSafe, AARP’s initiative to stop financial exploitation—that is, providing a trusted contact and enacting safe harbor rules. As such, they will better meet customers’ financial needs and safeguard their assets. This seemingly small step by FINRA to protect older Americans will make a huge dent in the fight.

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AARP Announces 2017 State Capitol Caregivers and Super Savers

AARP Announces 2017 State Capitol Caregivers and Super Savers

In addition to advocating for older Americans in the halls of Congress, AARP staff and volunteers are working on the ground in all 50 states, Washington, DC, Puerto Rico and the U.S. Virgin Islands to make a difference in people’s lives through advocacy. This year, we have helped enact state policies to support more than 30 million family caregivers and provide thousands of workers with a new way to save for retirement.

Achieving these results took a lot of hard work and dedication from state legislators, governors and other elected officials. They worked together – often across party lines – to write, support, and advance commonsense policies that make people’s day-to-day lives a little bit easier and gives them more financial security in their retirement.

To recognize these elected leaders, AARP is proud to announce our fourth annual bipartisan class of Capitol Caregivers who fought to increase support for family caregivers and their loved ones along with our third annual bipartisan class of Super Savers who fought to help more Americans retire with confidence.

Capitol Caregivers
Every day, 40 million Americans help parents, spouses and other loved ones live independently at home, where they want to be. Family caregiving is a labor of love, to be sure, but it can also be a challenge. Care responsibilities can include providing transportation, cooking meals, managing finances, performing complex medical tasks, helping with bathing and dressing, and so much more. Sixty percent of family caregivers juggle full- or part-time jobs with their caregiving duties, and many are still raising their families.

AARP is fighting for commonsense solutions to make these big responsibilities a little bit easier—and we’ve seen real progress in states across the country.

AARP’s 2017 class of Capitol Caregivers recognizes 91 state legislators, five governors, one lieutenant governor, and one justice from more than 30 states, who advanced policies that:

A list of AARP’s 2017 Capitol Caregivers and the legislation they championed can be found here.

Super Savers
Today, 45 percent of working-age households have no retirement savings at all. At AARP, we believe everyone should be able to retire with confidence. That’s why we’re fighting for Work and Save plans that give more workers access to a payroll deduction retirement savings plan. Employees who are able to save for retirement out of their regular paychecks are 15 times more likely to save.

AARP’s third class of Super Savers includes six state legislators and two state treasurers who were integral to the passage of state-facilitated retirement programs in 2017.

A list of AARP’s 2017 Super Savers and the legislation they championed can be found here.

More work to do . . .
In 2018, AARP will continue to work with elected state leaders across the country to fight for the issues that matter to you and your families. To stay up-to-date on our progress, or get involved, sign up here.

More information
2014 Capitol Caregivers

2015 Capitol Caregivers
2016 Capitol Caregivers

2015 Super Savers
2016 Super Savers

Nancy LeaMond is AARP chief advocacy and engagement officer. She leads the organization’s Communities, State and National Group, including government relations, advocacy and public education for AARP’s social change agenda. LeaMond also has responsibility for AARP’s state operation, which includes offices in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

You can follow her on Twitter @NancyLeaMond.


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Giving Thanks for America’s Family Caregivers

Giving Thanks for America’s Family Caregivers

As we head into the Thanksgiving holiday, let’s also remember that November is National Family Caregivers Month – a time to recognize and express our appreciation for America’s 40 million family caregivers. They are truly the backbone our care system, helping aging parents, spouses, and other relatives and friends manage chronic conditions and disabilities.

At AARP, supporting family caregivers like Olivia Garcia is one of our top priorities. Here is Olivia’s story in her own words:

My name is Olivia, and I am my mother’s primary caregiver. Her name is Rosalinda, and she is 61 years young! My family and I have been taking care of her for 11 years, and she’s been living with us for about four years now. She was diagnosed with dementia at the young age of 54, then Alzheimer’s at 58. It’s been one hell of a rollercoaster of stress, emotions, questions and exhaustion!  But, we love her and know that good we are doing by the quality of care she receives. Thankful to the fullest for our local Agency on Aging that helped us so much during the beginning times of our journey. Mom attends an adult day care during the day so I can continue to work and provide for my young family of five – including mom! Life isn’t easy or fair at times, but your attitude about it makes all the difference. When her moments of clarity come in and she’s full of joy, I know we are doing amazing things for her!  God bless all the caregivers and their families!

To help Olivia and the millions of family caregivers across the country, AARP provides information, develops educational programs, and advocates for a range of federal and state legislation.

Our work is informed and driven by a number of important trends:


  • The need for family caregivers is growing. America is aging. By 2030, one in four Americans will be over age 50, and by 2050, one out of five will be age 65 and over. People are living longer, managing chronic conditions over an extended period of time, and, more and more, they are staying in their own homes.
  • Family caregivers are as diverse as America. We sometimes talk about the “typical” family caregiver . . . a 49 year old woman who spends 24 hours each week caring for her mother.  But, this data point masks the broader picture. Nearly one in ten family caregivers are over age 75. One in four are Millennials. Four in ten are male. While there may be a common bond, every caregiver’s situation is different, so there is no one-size-fits all solution to the challenges they face.
  • Technology innovations to support caregivers and their loves ones could be transformative – but we’re not there yet. Venture capital firms are pumping hundreds of millions of dollars into companies that provide technology, tools and resources for senior care. And, brand-name companies are rethinking how their products can be used by – and marketed to – seniors and others who require help to stay independent. But, an AARP study found that while 71% of caregivers say they are interested in technology that supports their caregiving tasks, only 7% are using what’s currently available.
  • Family caregiving is a workplace issue. A little more than 60% of American’s family caregivers are in the paid workforce. That’s 24 MILLION Americans who are balancing their caregiving responsibilities with jobs – either full or part-time. Employers can do a lot to helpAARP’s research shows that creating a caregiver-friendly workplace can increase productivity and help attract and retain talent. We’ve created a toolkit to help employers support their caregiver employees.
  • Family caregiving is no longer simply a personal issue. It is now firmly planted as a BIPARTISAN legislative and political issue.  At the state level, the CARE Act – a law that helps family caregivers get information and training to support a loved one who has been in the hospital – is on the books in 39 states and territories that cover the political spectrum. And, here in Washington, AARP is proud to work with Senators and Representatives on both sides of the aisle to promote legislation like the Credit for Caring Act and the RAISE Family Caregivers Act.


In September, the RAISE Family Caregivers Act passed the U.S. Senate by unanimous consent . . . a strong sign that in an age of partisan gridlock, family caregiving is an issue that policymakers of all political stripes can get behind. AARP is continuing to bolster support for the legislation in the U.S. House.

We are hopeful that Congress will pass the bill to create a national strategy that recognizes and supports family caregivers so families like Olivia Garcia’s can get the help they need to make the big responsibilities of caregiving a little bit easier.

Nancy LeaMond, chief advocacy and engagement officer and executive vice president of AARP for community, state and national affairs, leads government relations, advocacy and public education for AARP’s social change agenda. LeaMond also has responsibility for AARP’s state operation, which includes offices in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

You can follow her on Twitter @NancyLeaMond.

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Disrupting Housing: Younger Generations Leading the Way to Develop a Model for Ageless Homes

Disrupting Housing: Younger Generations Leading the Way to Develop a Model for Ageless Homes

Every person, regardless of age, can participate in creating a livable community. According to a newly published report from Generations United, opportunities that bring different generations together—even the tougher ones involving “tack[ling] critical problems” benefit the entire community.

Though somewhat counterintuitive, finding solutions to meet the needs of older adults must involve voices and collaboration coming from people of all ages. Various generations offer different perspectives, and in fact, people of all ages gain value from age friendly concepts. A recent project we led proved to be a living example.

A Winning Project

The likelihood of having a disability that limits a person’s mobility increases with age. Homes with physical barriers can present risk of falls and injuries, especially for someone with mobility challenges. In 2016, AARP and its partners called for submissions to a competition-style project that sought new solutions for homes that best accommodate our needs as we age. “Re-Defining Home: Home Today, Home Tomorrow,” developed through AARP’s Future of Housing Initiative, asked architects to redesign an existing home while embracing the concept of universal design—that is, design that supports and empowers all people and families: retirees, caregivers and their loved ones, people with disabilities, singles, and young and multigenerational families.

AARP and partners renovated a home in Memphis, TN to incorporate universal design features to accommodate the needs of residents as they age. New features include an open space floor plan with flexible space, wide hallways and spacious bathroom with a curb-less shower.
Photo: Benjamin Rednour


Entrants were challenged to discard typical designs usually targeted towards older adults such as ramps or shower handrails. Rather, competition judges wanted to see evidence of innovative thinking around how affordability, flexibility, community, accessibility, beauty and functionality could best be reflected in a home for people who want to remain in their homes as they age.

Accessible features

Designers incorporated features that provide opportunities to engage the community. Front yard planters can become a community garden. Large windows invite interaction with neighbors.   Photo: Benjamin Rednour


The winning team included three junior architects, from IBI Group—Gruzen Samton, Gabriel Espinoza, Carmen Velez, and Timothy Gargiulo—professionals under age 30. Their designs considered what it means to age in place successfully: creating an easily navigable home, incorporating features to reduce fall risks, as well as creating space to nurture and maintain family and community connections. Ms. Velez no doubt drew from her own experience living with her grandmother, Carmencita Bengzon, to help inform the team’s choices. Ultimately, this winning team’s original and imaginative plans were incorporated into a house in Memphis, TN—now the home of a veteran and his family, including his mom, who has limited mobility.

Winning team; veteran family

IBI Group—Gruzen Samton architects, Gabriel Espinoza, Timothy Gargiulo, and Carmen Velez speak about their winning designs at the home renovation reveal (left). Mr. Walter Moody and his mother, see their “ageless” home for the first time (right). Photo: Benjamin Rednour


Also achieving success in age disruption was the entry from 11-year old Jennifer Haage, a self-described future architect. (Yes, that’s right—when we say all ages should contribute, we mean all ages.) In her thoughtful and comprehensive proposal, Jenny shared her ideas for aging within a home suitable for all families. Her designs included using wide hallways for wheelchair accessibility, creating multi-functional spaces, adding in interior and exterior green spaces, and incorporating a “cat corner,” since pets can be great companionship for older adults who may feel isolated.

Renderings by Jennifer Haage

Designs from Jennifer Haage, age 11, who shared her vision for an “ageless” home. Photo: Jennifer Haage


All-Ages Approach a Winning Combination

The Re-Defining Home competition illustrates how accessible home design can be duplicated across the country.  The winning team exemplifies younger generations taking action to solve pressing issues that make stronger communities for all. Encouraging and inspiring young people to participate in aging issues can positively impact their families, careers and communities—and help us to make places more livable for people, both today and tomorrow.


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Shannon Guzman is a policy research senior analyst with the AARP Public Policy Institute, where she works on housing, transportation and land-use issues. Shannon focuses on policies and programs that create livable communities for people of all ages. For more information about livable communities visit, Photo: DFinney

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Thank You, Nurses.

Thank You, Nurses.

During National Nurses Week, I am making a special effort to say, “thank you,” to all the nurses in my life, and I invite you to do the same. Each and every day, in communities across the country, nurses help their patients to get and stay well.  They use their incredible skills to comfort us in difficult times, and care for us when we’re at our most vulnerable.

For America’s 40 million family caregivers, nurses often become even more heroic as they help us care for our parents, spouses and other loved ones. For me, Nurse Sue was an invaluable member of our family’s team. Her assistance was critical to keeping my Mom safe at home.

Family caregivers often share their stories with us on I Heart Caregivers and the @AARPadvocates Facebook page.  It seems many also have their own versions of Nurse Sue:

Judith: “I could not have been my mother’s caregiver without all the care and advice given to me by the nurses. THANK YOU ALL.”

Nana: “When my husband was alive the nurses were angels. They really took care of my husband in our home, especially the hospice ones, they were just awesome.”

Barbara: “Where would we be without them [nurses] to care for us & our families when we need them?”

Dolores: “Nurses are in a league of their own! They do such wonderful work and it often goes unnoticed. I have a lot of admiration for nurses!”

Nurses heal. Red tape doesn’t. 
That’s why AARP is fighting to cut through the red tape that prevents nurse practitioners—and all advanced practice registered nurses—from doing their jobs. Right now, 28 states still have outdated rules that restrict nurse practitioners from using all their skills and training to provide primary and preventative care, including:

  • routine health care such as diagnosing and treating patients,
  • management of chronic conditions,
  • ordering lab tests,
  • prescribing medications
  • performing annual exams
  • and much, much more

Keep in mind: nurse practitioners have master’s or doctoral degrees and advanced training, so they can give patients the care we count on. By modernizing state rules, patients, family caregivers—and our loved ones—will have better opportunity to receive the care we need, when and where we need it.  And, yes, this means: at home and in our communities.

To all nurses, again, I give you my thanks.  Your caring helped make me a better, stronger family caregiver. For that, alone, I am grateful.

Where does your state stand when it comes to rules that allow nurse practitioners to do their jobs?

Sign up to get involved and help AARP cut the red tape.

Elaine Ryan is the vice president of state advocacy and strategy integration (SASI) for AARP. She leads a team of dedicated legislative staff members who work with AARP state offices to advance advocacy with governors and state legislators, helping people 50-plus attain and maintain their health and financial security.

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New PSA with Ad Council Spotlights Male Caregiving

New PSA with Ad Council Spotlights Male Caregiving

A couple of weeks back, we unveiled our new caregiving ad – starring a unique caregiver. You may recognize him as the antihero from Machete or Breaking Bad, but you would never assume he’s just like you. That’s right, actor Danny Trejo is a caregiver and he is showing just how tough male caregivers are.

Although the typical family caregiver is a 49-year-old woman, there is a silent army of husbands, brothers, sons and friends – about 16 million– caring for their spouses, parents and other loved ones.

As family sizes shrink and the population ages, the number of male caregivers is only expected to rise, but they are often ignored in the caregiving conversation.

AARP, in conjunction with, the Ad Council is spotlighting this overlooked group through its new PSA campaign. The ad features Trejo performing the tough guy feats he is known for in films, alongside the everyday tough jobs a typical caregiver performs.

AARP’s new data profile on male caregivers shares insights on the level and type of care men provide, the challenges they face and more. Some of the key findings include:

  • More than half of male caregivers (63%) are the primary caregiver for their loved one.
    • Male family caregivers are helping their loved ones with personal care activities and more than half (54%) of male family caregivers perform medical and nursing tasks, such as injections, tube feedings, and wound care.
  • Many men say they feel unprepared for these tasks and express discomfort providing intimate personal care (e.g. bathing, dressing, toileting).
  • Men are less likely than women to reach out for help and feel uncomfortable discussing the emotional challenges of caregiving.
  • More than one-third (37%) of male caregivers don’t tell their employers that they are juggling caregiving responsibilities at home.


In addition, AARP sharing stories of men rising to the challenge and offering their lesson’s learned with others.

Caregivers can find helpful tools, like the Prepare to Care guides and more at

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