Camilla O. McRory, Attorney at Law

Managing Someone Else’s money: New protection from ID theft and fraud

Today the Federal Trade Commission and the Bureau of Consumer Financial Protection posted a joint blog about new federal law provisions regarding credit freezes and “protected consumers.”

Now people with certain legal authority can act on someone else’s behalf to freeze and unfreeze their credit file. Taking this step can help protect incapacitated people and people with certain fiduciaries from ID theft and fraud.

Millions of Americans are managing money or property for a family member or friend who is unable to make financial decisions or pay bills. Serving as a financial caregiver can be really tough, so the Bureau of Consumer Financial Protection created the Managing Someone Else’s Money guides for four different fiduciary roles.
We also created a brief video that explains the guides featuring the experiences of two lay fiduciaries.

We hope you’ll help us get the word out about these resources. Today we’re sharing evergreen language that you can insert into newsletters, email blasts, as well as sample social media posts about the Managing Someone Else’s Money guides. If you use the content provided, you must indicate that it originated with the Bureau of Consumer Financial Protection, as indicated in each piece.

Please read our blog post and share it with your colleagues and with consumers. Thanks!