What You Need To Know About the Financial Exploitation Prevention Act (FEPA)

The MBA was a member of the Attorney General Elder Abuse Task Force, Financial Exploitation subcommittee. This subcommittee worked for over 18 months to draft the FEPA which was passed in December 2020 (PA 344 of 2020) with an effective date of September 26, 2021. We will continue to update this webpage as more information is attained. We will also post these changes in the weekly MBA Bank Beat.

View more information on the Public Act website here.

View the Summary of the Act.

Read the draft policy from a community bank. 

View the Attorney General Task Force documents - Financial Institutions Best Practices Guide; Central Dispatch Non-Emergency Number by County

The Elder Abuse Brochure is available at no cost for you to place in your bank lobbies. You may email Debbie Mitin with your request. Please be sure to send an address, and the number of brochures requested, not a PO Box per the attorney general office's request.

For more information pertaining to the Financial Prevention Act, contact Debbie Mitin, AVP, Trust Services at dmitin@mibankers.com.

Financial Prevention Act - Protecting Seniors Webinar Series (click on titles below to access slides)
Contact us to purchase the recordings.

Topics include:

Financial Exploitation Prevention Act 
Kelly Walters, Chief Risk Officer, General Counsel, First State Bank

Identifying Financial Exploitation 
Katharyn Barron, Attorney General’s Office, State of Michigan 

Practical Resources Bankers Can Access to Stem Elder Financial Exploitation
Cindy Liebes, Cybercrime Support Network; Sam Kunjukunju, Senior Director, Bank Community Engagement, American Bankers Association

Federal Elder Justice Initiative
Mitra Jafary-Hariri, Assistant United States Attorney and Elder Justice Coordinator for the Eastern District of Michigan; Special Agent Bryan Drake, FBI 

Money $afety for Seniors
Ben Joergens | FINANCIAL EMPOWERMENT DIR, VP, Old National Bank

DIFS Office of Banking Update
David Merchant, Assistant Director – Office of Banking, Michigan Department of Insurance and Financial Services 

State Overview/Efforts
Cynthia Farrell, program manager for the Michigan Department of Health and Human Services' (MDHHS) Supportive Adult Services Section and Kris Lamblin, APS Policy Specialist

Access the Webinar

The Department of Justice is striving to combat financial crimes against older Americans.  Learn about prevalent financial scams so you can guard against them, and get involved in making your community safer.  If you need help, there is a Elder Abuse Resource Roadmap that can guide you to the right agency for your particular situation.

View the Banker Hall of Fame

Elder Abuse Resource Roadmap: Financial 
There are many types of financial harm, and it can be difficult to know what to do when this happens to you, or someone you know. 

Answer a few questions and the Resource Roadmap will help you quickly find the right reporting agency.

                                                               Resource Roadmap

Or read the Elder Abuse Resource Roadmap: Financial document.

Brought to you by the United States Department of Justice.

ABA Foundation: Safe Banking for Seniors Program
A free banker resource with key information on ways to strengthen cooperative efforts with law enforcement, as well as Adult Protective Services (APS).
Protecting Seniors: Resource Guide

Get Involved
By recognizing financial exploitation and scams, older Americans may avoid becoming victims.

Preventing Elder Financial Abuse and Exploitation with Tellers

What the Government is Doing to Fight Back Against Scammers

Get Involved, Get Safe - Stop Financial Abuse
A series of presentations with guides and brochures to be used for community or professional presentations

A financial education program

Pass it On!
Share what you know to help protect someone you know from a scam

Work with sheriffs to make your community safer

Senior Medicare Patrol
Volunteer to show Medicare and Medicaid recipients how to protect against, detect, and report fraud

Brought to you by the United States Department of Justice.

More Resources

  • The AARP BankSafe Initiative
    • The BankSafe Initiative helps financial institutions better meet consumers’ financial needs and safeguard their assets. The initiative focuses on four key areas:Preventing financial exploitation
      • Empowering family caregivers
      • Helping those with dementia
      • Making banking tools and environments easier to access

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