There’s a buzz about a recent article in the Wall Street Journal entitled, “Beyond Estate Planning: Bankers Tackle Elder Care” that talks about growth opportunities that banks are seizing to help assist some of their best and most trustworthy customers, their senior customers. From helping to pay bills, arrange for services or refer to other trusted advisors, bankers are reaching out to these customers in an effort to keep their business (and their deposits) but also fulfill some of their requirements to serve the community. These types of services would help banks satisfy their Community Reinvestment Act (CRA) requirements that require them to actively participate in their local communities not only through loans but with services. These financial institutions are leveraging their status as “trusted advisors” wisely but will regulators step in for separation of “church and state”?
“Beyond Estate Planning: Bankers Tackle Elder Care”
