Cases Being Investigated for Financial Exploitation of Vulnerable Adults

In Florida, a Vulnerable Adult means a person 18 years of age or older whose ability to perform the normal activities of daily living, or to provide for his or her own care or protection, is impaired due to a mental, emotional, long-term physical, or developmental disability or dysfunctioning, or brain damage, or the infirmities of aging.

Florida law protects vulnerable adults from neglect, abuse and exploitation – whether financial, physical, or emotional. Florida’s aging and disabled citizens are given special protection from such abuse, neglect and exploitation if they are physically or mentally incapacitated, or unable to care for themselves due to advanced age. Banks, lending institutions, mortgage brokers and others in the lending ‘food chain’ have participated in a variety of schemes to exploit Florida’s vulnerable adults. Some examples are:

• Making unaffordable loans based on the assets of the borrower rather than on the borrower's ability to repay an obligation;
• Inducing a borrower to refinance a loan repeatedly in order to charge high points and fees each time the loan is refinanced ("loan flipping");
• Engaging in fraud, misrepresentation or deception to conceal the true nature of the loan obligation
• Charging excessive late fees
• Re-financing a loan within 18 months with no benefit to the borrower
• Offering to originate a loan at the borrower’s home without a pre-arranged appointment
• Making direct payments to home improvement contractors

If you are a friend, family member or caregiver of a Vulnerable Adult who has been exploited, neglected or abused, please consult us to see if there is a case which can be brought to pursue money damages from the perpetrators.