OCC BULLETIN 2013-21
Subject: Privacy Laws and Reporting Financial Abuse of Older Adults
Date: October 4, 2013
To: Chief Executive Officers and Compliance Officers of National Banks, Federal Savings Associations, Federal Branches and Agencies, Department and Division Heads, All Examining Personnel, and Other Interested Parties
Description: Interagency Guidance
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Commodity Futures Trading Commission, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, Federal Trade Commission, National Credit Union Administration, and Securities and Exchange Commission have jointly issued the attached guidance to financial institutions. The guidance clarifies the applicability of privacy provisions of the Gramm-Leach-Bliley Act (GLBA) to reporting financial exploitation of older adults.
This guidance clarifies that reporting suspected financial abuse of older adults to appropriate local, state, or federal agencies does not, in general, violate the privacy provisions of the GLBA or its implementing regulations.
Please contact your supervisory office or Malloy Harris, Compliance Specialist, Compliance Policy, at (202) 649-5470.