The Consumer Financial Protection Bureau (CFPB) has issued new guidance informing banks it’s their responsibility to report instances of suspected fraud of senior citizens and, according to the CFPB, reporting such exploits will not contravene the Gramm-Leach-Bliley Act. Bank tellers and other financial employees “can be instrumental in reporting such fraud,” said CFPB Director Richard Cordray, because they are familiar with the customers who may be exploited, The Wall Street Journal reports.
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