Nov 13, 2019
Nearly 15% of Americans—more than 34 million people—are serving
as caregivers for adults over 50. In November, recognized as
National Family Caregiver Month, the ABA Banking Journal Podcast is
taking a look at how banks can support caregivers in their mission
while protecting the privacy and safety of the bank customers
receiving care. Kieth Cockrell, head of specialty client services
at Bank of America, joins the podcast to discuss:
- Bank of America’s “Trusted Contact” feature, which allows
customers to designate an alternative contact person, which was
recently rolled out to all retail bank accounts.
- Frauds and scams that seniors can fall victim to and how
trusted contacts have facilitated direct conversations with the
victimized customers that stopped the scam.
- How designating a trusted contact—which doesn’t provide account
access the way joint accounts or power of attorney do—can make it
easier for have sometimes hard conversations with customers who
need financial caregiving.
- Bank of America’s overall elder fraud prevention and anti-fraud
programs and resources, including efforts to prevent wire transfer
Learn more about the
ABA Foundation's Safe Banking for Seniors program.