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Consumer Advisory Group meeting addresses financial abuse of older people September 8, 2023

September 8, 2023
Sage Advocacy is delighted to have had the opportunity to discuss issues relating to financial abuse of older people with the Consumer Advisory Group (CAG) of the Central Bank of Ireland; our third engagement with the Central Bank so far this year. Our thanks for a most courteous welcome to its Chair, Theodore Kockelhorn. The need for banks and financial service providers to adapt to an ageing society and economy was discussed; and the urgent need for the establishment of a National Adult Safeguarding Authority was appreciated. While praising the development of Vulnerable Customers Units in Irish banks, Sage Advocacy stressed that much more work needed to be done in this area. The CAG was presented with two important documents:
Managing Finances Supporting adults who may be vulnerable A Discussion Document (March 2023)
Available here: https://www.sageadvocacy.ie/media/2424/managing-finances-march-2023.pdf
Submission to Central Bank of Ireland Review of the Consumer Protection Code (March 2023)
Available here: https://www.sageadvocacy.ie/media/2446/sage-advocacy-central-bank-submission-march-2023.pdf
Sage Advocacy is proud to have played a role in highlighting issues regarding control of residents' finances by nursing homes, which emerged yesterday in media coverage of HIQA reports available here: https://bit.ly/3PcAiXC and is pleased at the level of interest shown in this issue by Chairman Kockelhorn and his colleagues.
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