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Cadence Bank, Senior Housing Crime Prevention Offer Tips to Help Prevent Elder Financial Abuse in Recognition of World Elder Abuse Awareness Day

HOUSTON, June 15, 2021 – Cadence Bank, a subsidiary of Cadence Bancorporation (NYSE: CADE), and the Senior Housing Crime Prevention Foundation (SHCPF) are providing tips for preventing the disturbing trend of elder financial abuse in recognition of World Elder Abuse Awareness Day on June 15.

Older Americans lose roughly $3 billion to a growing number of scams each year, according to the United States Senate Special Committee on Aging. But only one in 44 cases get reported, according to the National Adult Protective Services Association, putting the true cost as high as $35.5 billion annually.

“As financial stewards of the community and trusted lenders, Cadence Bank takes a number of preventative steps to identify, prevent and report suspicious activity for the protection of our customers,” said Aimee Hamilton, chief risk officer for Cadence Bank. “But we want to ensure all Greater Houston residents are equipped to recognize the warning signs and take steps to protect themselves and their loved ones, so together we can stop bad actors from robbing millions of Americans of their financial nest egg.”

Cadence Bank and SHCPF offer the following suggestions to help curb the rising tide of elder financial abuse:

Secure private information (Social Security card, passport, bank account numbers, financial statements, medical records, and other legal documents), in a bank safety deposit box.
Check your bank accounts and bill statements carefully. If you notice unauthorized charges or unusual activity, alert your bank immediately.
Do not disclose personal information, such as bank account numbers or PINs, to anyone in a phone call, letter, email, fax or text message claiming to be from an established organization, especially if they ask you to wire funds or send private information.
Ask your local community bank about available resources to help protect you or your loved ones from scams and exploitation.
Plan ahead by giving a trusted person the legal authority to make financial decisions for you if you are unable. Make sure your bank has a record of who can manage your money on your behalf.
Contact your local adult protective services agency and law enforcement if you have information about a fraud or suspect you may have encountered financial abuse.

“Community bankers are often relied upon as the front line of defense in the protection of their customers and as providers of prevention education and information for elderly customers and their adult children,” SHCPF President and CEO David Lenoir said. “Call on your local community banker, to help identify prevalent scams and safeguard your hard-earned financial future.”

To learn more about the elder financial abuse and prevention strategies, visit https://shcpfoundation.org/cra-partners/

About Cadence Bank

Cadence Bank is a leading regional banking franchise with $18.8 billion in assets as of March 31, 2021, and 98 branch locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 133 years of financial expertise, Cadence provides corporations, middle-market companies, small businesses and consumers with a full range of innovative banking and financial solutions. Services and products include commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, personal and business insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards. Clients have access to leading-edge online and mobile solutions, interactive teller machines, and more than 55,000 ATMs. The Cadence team of 1,900 associates is committed to exceeding customer expectations and helping their clients succeed financially. Cadence Bank, N.A. is a subsidiary of Cadence Bancorporation (NYSE: CADE). For additional information, visit cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender. NMLS#525022.

About SHCPF

The SHCPF mission is to provide protection and an enhanced quality of life for vulnerable senior housing residents through meaningful turnkey CRA compliance for community focused banks.
The Foundation is funded exclusively by the banking industry and is endorsed by over 30 Bankers associations. 
For more information visit SHCPFoundation.org or call 800-529-9096.

Contacts:  
Senior Housing Crime Prevention Foundation  
1-901-529-4780  
Email: aimee.leeper@Shcpfoundation.org  

Cadence Bank
1-713-871-4072
Email: sheena.cochran@cadencebank.com 



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