Financial Exploitation Prevention Act (FEPA)

As a member of the Attorney General Elder Abuse Task Force, Financial Exploitation subcommittee, MCUL helped draft the Financial Exploitation Prevention Act (FEPA) which was passed in December of 2020 and became effective September 26, 2021. 

Credit Union Resources

• Visit the FEPA website for more information
• Model FEPA Draft Policy*
• Attorney General Task Force documents
  • Financial Institutions Best Practices Guide
  • Central Dispatch Non-Emergency Number by County
  • The Optional form for reporting to APS
  • FI Notice to Prosecutor form
• Elder Abuse Brochure
  • Available at no cost for your lobbies.

Additional Resources

• AG’s task force page

• CUSG Strategic Advisory Elder Abuse resources

  • Staff training
  • Community Training Kit
• DIFS Office of Banking - Financial Exploitation Prevention Act
  • David Merchant - Assistant Director, Office of Banking, DIFS
• MDHHS Adult Protective Services & Financial Exploitation Prevention Act Review

*NOTE:  This draft model policy is not intended as nor provided as legal advice.  Neither the MCUL & Affiliates nor any of its employees provides legal advice in any capacity.  This template will require customization by credit unions to account for their own unique experience, procedures, etc.  Informally, inclusion of or reference to specific training programs and reporting procedures, as well as timing of filing any SAR may be advisable.  Any policy to be adopted by a credit union should be carefully reviewed by their own legal counsel.