The Pennsylvania Association of Community Bankers are pushing for new laws to better protect seniors from elder financial abuse. Kevin Shivers, President and CEO of PACB, and Christina Carden, VP of Marketing and Communication at Cross State Credit Union Association were guests on The Spark to shed light on this issue. Below is a op-ed from PACB that explains their partnership on this effort and what they would like to see happen in 2025.

Letter to Santa to Protect Older Pennsylvanians

Dear Santa,

Older Pennsylvanians deserve a new law to help protect them from financial exploitation.

Elder financial exploitation comes in many forms. Scammers are constantly targeting older adults through a variety of schemes, like romance scams and investment frauds.

Tech support scams were the most reported last year by older adults. Criminals pose over the phone as tech or customer service representatives, impersonating technology, banking, or government officials to convince victims that foreign hackers have infiltrated their bank account. They then instruct the victim that to “protect” their money, they should move it to a new account – one secretly controlled by the scammers.

Nameless, faceless scammers are constantly finding new ways to steal money from older adults. Sadly, even people known and trusted by an older adult can be the perpetrators of elder financial exploitation. In these situations, a family member, friend, or someone else known to the older adult exerts pressure on financial decisions, asks for sums of money, or convinces the older adult to sign over investments, real estate, or other assets through the use of manipulation, intimidation, or threats.

On a positive note, these scams often raise the suspicions of trained bank employees who are effective guards against financial abuse of older adults. Recognizing the warning signs of frauds and scams is a goal that is shared by many, including the Pennsylvania Association of Community Bankers and AARP Pennsylvania.

That is why this holiday season, we are urging older Pennsylvanians to be on high alert for scammers, fraudsters, and manipulators who want to steal their money, their financial information, and even their identity. We believe if you can spot a scam, you can stop a scam. But this is where our wish list gets a bit longer. Currently, the state’s Older Adults Protective Services Act (OAPSA) does not mandate reporting of elder financial abuse. We believe this act also needs to be updated to allow banks and credit unions to place a temporary hold on transactions they suspect are fraudulent and report the matter to the local area agency on aging and law enforcement.

Providing this “safe harbor” will ensure banks play an even more active role in preventing elder financial abuse, while adding a needed device to the Commonwealth’s toolbox to detect and deter frauds and scams. While we’ll be good and working hard on this effort, we hope you can help make our wish for the Commonwealth to pass a law to better protect older Pennsylvanians from elder financial abuse can come true in the new year.

Kevin Shivers, President and CEO, Pennsylvania Association of Community Bankers

Bill Johnston-Walsh, State Director, AARP Pennsylvania

Listen to the podcast to hear the interview.

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Central Pennsylvanians have been experiencing cold weather for the past week. ABC 27 Meteorologist Dan Tomaso says it’s due to low pressure that has been keeping slightly below average temperatures.

“It's not extremely cold, but it's cold enough that we're seeing highs around freezing, maybe a little bit below nighttime. Temperatures in the 20s, nighttime temperatures in the teens and the coldest spots, but also the really persistent wind. And I think that's what people really get tired of this time of the year, that when we keep getting these drops of cold air coming in from the north, unfortunately, that means we keep getting rounds of cold air. Chances for some light snow.”

Temperatures from this month compared to last year’s are about five to ten degree below average.

“It seems like every passing snowstorm we get is maybe 1 or 2in. And so, heading into late Friday night, early Saturday morning, we do expect another kind of brush by of light snow, 1 to 2in, likely two inches might be really the high point at this at this stage. And then early next week, there's another type of clipper that usually means some light snow. Maybe it's Monday or Tuesday timeframe and then possibly another next Thursday into Friday.”

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The World Affairs Council of Harrisburg is inviting high school students in Central Pennsylvania to take part in their annual Martin Luther King Jr. International Poetry and Storytelling Festival on January 19. This year’s theme is “We must accept finite disappointment, but never lose infinite hope.” Joyce Davis, President and CEO of the World Affairs Council of Harrisburg, says she hopes students stop and think about the ideals of the Reverend Dr. Martin Luther King Jr. and what it means to their life today.

“We must accept finite disappointment, meaning that that disappointment is now limited but infinite. We can never give up this infinite hope that this will be a better world. It is going to be. And it's only going to happen if we don't give up and don't suffer despair, “said Davis.

On Wednesday February 15 at 5:30 The 3rd annual Central Pennsylvania Dr. Martin Luther King, Dr. Commemorative banquet will take place at the Hershey Lodge. Dr. Wanda Knight, Professor of Art Education and African American studies at Penn State Harrisburg says this banquet is always held on Dr. Kings Birthday.

“I want to say that again, January 15th, we know we have a holiday, but that typically may not be his birthday. So, what people to make sure they recognize his birthday, which is January 15th, always. And this this case, January 15th, falls on a Wednesday. And the whole purpose of the banquet is to enhance community engagement among local organizations. And I'm thinking about our organizations, our businesses, our residents. Also, the banquet is designed to strengthen community ties and promote unity and collective responsibility, collective responsibility. And that's really key to what Dr. King's vision of a more just and equitable society, “said Knight.

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