Janie Wynn Protecting Elders from Financial Exploitation Act

The Janie Wynn Protecting Elders from Financial Exploitation Act requires the Bureau of Consumer Financial Protection to issue rules within 180 days that mandate fraud alerts and enhanced training for financial institutions serving senior citizens. Card issuers must send fraud alerts to both the senior cardholder and a designated adult contact, unless the cardholder signs a waiver acknowledging the increased risk of exploitation. Banks and credit unions are required to train employees on identifying specific account activities indicative of abuse and must notify seniors within 24 hours if such activity is detected. These provisions directly affect financial institutions by imposing new monitoring and communication duties aimed at protecting older adults from financial fraud.