Preventing and Responding to Financial Abuse

This guideline reflects good industry practice, and the ABA encourages members to use the principles in this guideline to put in place internal processes, procedures, and policies. The ABA has prepared consumer fact sheets about financial abuse and setting up powers of attorney that banks can share with their customers.

This industry guideline:

  • Explains what financial abuse can look like and how it can impact customers and a bank’s relationship with their customers; and

  • Outlines a framework for banks to raise awareness and promote consistent arrangements to deal with suspected cases of financial abuse