CFPB checking out brand-new study on ‘age-friendly’ banking

The Consumer Financial Protection Agency is proposing a brand-new study to evaluate the banking experiences of grownups as they age, with a concentrate on the obstacles and chances of embracing “age-friendly” account functions, according to a brand-new notification in the Federal Register. The proposed study would gather details on participants’ experiences with their main bank or cooperative credit union relating to account availability, their experiences with scams and frauds, monetary caregiving, the significance of age-friendly account functions, and other subjects.

The outcomes will notify the firm’s age-friendly banking instructional, regulative and policy work, the CFPB stated. “The data gathered through this survey will empower many other governmental, nonprofit and other entities to conduct analysis on topics of interest relevant to their work. These entities can apply their findings to enhance consumer protections and expand age-friendly banking products and services nationwide.” The CFPB initially proposed the study in May however is now looking for additional discuss the energy of the study and methods to enhance the details gathered.


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