Peapack-Gladstone Bank

Elder Financial Abuse

Elder financial abuse is very serious in our country.  According to a 2009 report by the MetLife Mature Market Institute, elder financial abuse costs older Americans more than $2 billion each year.  Furthermore, the National Committee for the Prevention of Elder Abuse and the Virginia Polytechnic Institute and State University state that 1 million older Americans may be targeted yearly for such abuse and fraud.*


Elder financial abuse occurs when an elderly person’s money or assets are used without his/her knowledge or contrary to his/her wishes.  If you have experienced any of the following, you may be a victim of elder financial abuse:

  • Money has been taken out of your bank account without your authorization or knowledge.

  • Important items are missing from your home.

  • Charges appear on your credit card without your authorization.

  • People do not provide agreed upon services which you've paid for.

  • Someone has used your social security number or name to open an account without your authorization.

  • Someone has created or changed your living trust or will for his/her benefit without your knowledge.

  • Someone is misusing the Power of Attorney (POA) you have given them. 

What are Some Warning Signs?
According to the Arizona Elder Abuse Coalition, the following are warning signs exhibited by an elderly person that may indicate he/she is a victim:

  • Asks the same questions over and over again.

  • Change in mood, appearance and grooming. 

  • Change in eye contact with bank employees.

  • Withdrawing or cringing.

  • Nervousness or fear of people accompanying them - when with another individual, the person is not allowed to speak or make decisions on his/her own.

  • Excited about a “windfall” of cash. 

What Can You Do to Help?
Let the police know immediately.  Authorities have stated that only 25 percent of victims will report financial abuse.** Many people fail to report it because they may be embarrassed or they have a close relationship with the abuser.  Sometimes they do not want to hurt the abuser, or they don’t want anyone to know they are having difficulty living alone.  In some instances, they may not even know they are being abused.

At Peapack-Gladstone Bank, we train our employees to be aware of elder financial abuse and how to properly help customers who may be victims.  Do not let it go and do not be afraid to stand up for your rights.  It is your financial future and your well-being at stake.

**San Bernardino County,

Peapack-Gladstone Bank is a full-service NJ bank providing both business banking and personal banking and has served the New Jersey Banking community since 1921. We're committed to offering our customers the most convenient and innovative products and services to help them successfully navigate through the demands of life. Peapack-Gladstone Financial Corporation is a bank holding company. Peapack-Gladstone Bank was established in 1921 and is a wholly owned community bank. nj bank nj community bank nj commercial lending nj cd rates nj mortgages. free checking free business checking high yield checking mobile banking online banking. online account opening, remote deposit, e-statements, nj trust & investments. We have 21 branches in Somerset County, Hunterdon County and Morris County including the cities of Basking Ridge, Bedminster, Bernardsville, Bridgewater, Califon, Chatham, Chester, Clinton, Far Hills, Gladstone, Green Village, Hillsborough, Long Valley, Mendham, Morristown, Oldwick, Peapack, Pottersville, Summit, Whitehouse Station and Warren. Discover the conveniences all of Peapack-Gladstone Banks are having to offer. Business checking; free business checking accounts, interest-bearing checking accounts. Business savings; certificates of deposit, high yield money market accounts, insured money market accounts, sixth year in money market accounts, statement savings account. Commercial lending. Small-business lending. Other business services; cash management, remote deposit, merchant services. Personal banking; personal checking, chairman's club checking accounts, free personal checking accounts, interest-bearing checking accounts, NJ consumer checking accounts, opening a personal checking account. Personal savings; certificate of deposit's, IRA certificates of deposits high-yield money market accounts, insured money market accounts, IRA savings accounts, pony club savings accounts, statement savings account, opening a personal savings account. Consumer loans; home equity fixed term loans, home equity line of credit loans, personal unsecured loans, personnel reserved loans, vehicle loans, Car loans. Mortgage loans; adjustable rate mortgages, affordable mortgage products, construction permit it mortgages, fixed-rate mortgages, reverse mortgages. Products and services; access 24 our own banking, ATM banking, check reorder, point machines, credit cards (MasterCard Gold, Visa classic and platinum, Visa platinum was flexed miles, Visa business, direct deposit, net access Internet banking and bill paying service, mobile banking, night deposit, online financial calculators, adjustable rate mortgage calculator, biweekly payment calculator, kids calculated, to mortgage loan calculator, PITI, retirement calculator, refinance and interest savings, savings calculator, safe deposit boxes, Visa check cards. Trustee services. nj bank. nj community bank. nj commercial lending. nj cd rates. nj mortgages. free checking. free business checking. high yield checking. mobile banking. online banking. online account opening. remote deposit. e-statements. nj trust & investments. State administration services. The state and trust administration services. Charitable trusts and private foundations. Investment management services. Custody services. Individual retirement plan services. Reporting services. Cash management services. Tax preparation services. Financial planning services. Wealth management services. PDB's financial services.