November 24, 2010
Far East National Bank Sponsors Free Workshop for Elders in Los Angeles
Los Angeles, CA – November 24, 2010 – Far East National Bank partnered with the Elder Financial Protection Network (EFPN) to hold a free community education workshop for elders to learn how to protect themselves from becoming victims of financial exploitation. Over 80 seniors attended the seminar on Friday, November 15, 2010 at the Chinatown Senior Citizens Service Center in Los Angeles.
Guest speakers included Tina Hooks from the Los Angeles District Attorney’s Office, and Alejandra Zepeda from the LA County Department of Consumer Affairs. Attendees also had opportunities to receive one-on-one counseling with representatives from various organizations, including officers from Far East National Bank.
“Financial elder abuse is a large and growing problem in the United States, and California has taken a leadership role by enacting legislation to help combat this abuse,” said Kandy Hung, First Vice President and Community Reinvestment Act (CRA) Officer at Far East National Bank. “Persons who commit such abuse are often trusted by the elderly and may include family members and long-time friends and neighbors. We recognized the importance of educating seniors about how to prevent and recognize such abuse early on.”
“It is estimated that nearly 250,000 elders are victims of financial abuse in California each year,” said Jenefer Duane, Founder and CEO of EFPN. “According to the California Welfare Directors Association, only one in 100 cases are actually reported due to lack of awareness, isolation and fear of retaliation or loss of independence. EFPN is pleased to partner with Far East National Bank to bring community education to our elders so that they are equipped to protect themselves from these unscrupulous crimes.”
The workshop was a collaborative effort between Far East National Bank, First Bank, Elder Financial Protection Network, the LA County District Attorney’s Office, the LA County Department of Consumer Affairs, and the Chinatown Senior Citizens Service Center.
Headquartered in Los Angeles, Far East National Bank has 10 offices throughout California, an overseas branch in Vietnam, and a representative office in Beijing, China. As a subsidiary of Bank SinoPac and SinoPac Holdings (Taiwan), FENB offers customers seamless access to an extensive network of financial resources in the U.S., Taiwan, China, Hong Kong, Macau, and Vietnam. Our parent company has total assets exceeding $35 billion and serves over 2.5 million customers in Asia and North America from more than 200 service locations.
EFPN is an award-winning non-profit organization that works to prevent financial abuse of elders through community education and the training of financial professionals in identifying and reporting suspected abuse. For more information, visit www.bewiseonline.org or call 415.956.5556
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