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David Brancaccio Reports on New Research Suggesting Ability to Identify Financial Schemes Might be the First Thing to Go as People Age
Today, American Public Media’s Marketplace® announced a series of special coverage about age-related financial vulnerability. The series, titled “Brains and Losses,” is reported by “Marketplace Morning Report”host and senior editorDavid Brancaccio and examines how aging affects susceptibility to financial fraud. The Consumer Financial Protection Bureau puts the cost of elder financial exploitation as high as $36 billion a year. This series takes a deeper look at why seniors may be more impressionable.
This reporting explores new research from leading neuroscientists specializing in geriatrics that suggests people become more exposed to financial exploitation as they get older — in fact, it may be one of the first things to go.
Throughout“Brains and Losses,”Brancaccio talks with a wide range of nationally recognized sources including medical researchers, elder justice advocates and experts from institutions that include, Weill-Cornell Medicine in New York, the University of Southern California and the Stanford Center on Longevity.
Marketplace also shares stories of fraud victims and their families from across the country, including a 79-year-old substitute school nurse who lost nearly $200,000 in what started as a computer support scam and mushroomed into a blizzard of gift card purchases and a bank transfer to Nepal.
The series exposes the potential damages of financial vulnerability and offers recommendations for audiences who want to protect themselves or their aging family members.
*Listen to an audio sample of the special here.
“I’ve just spent a year exploring the twilight world of older people targeted by scammers. I wanted to know more after I noticed my own father-in-law, who’s in his mid-80s, was being inundated by scammers — his phone would ring every 10 minutes or so with someone trying to pick his pocket one way or another,” says “Marketplace Morning Report” host and senior editor, David Brancaccio. “It turns out, that one ringing phone was just the tip of a massive problem.”
“This is an issue that so many families are being forced to grapple with. Since May is mental health awareness month we thought this was a good time to share real life stories and provide guidance to our listeners about how to talk to their loved ones to help prevent them from becoming the next victims,” said Nicole Childers, “Morning Report’s” executive producer.
Brancaccio is the recipient of several journalism awards, including the Peabody, the Alfred I. duPont-Columbia, the Cronkite and an Emmy. He has previously appeared on CBS, CNBC, MSNBC and BBC World Service Television, with his written work being published in The Wall Street Journal, The Baltimore Sun and Britain’s The Guardian. He is also the author of the book “Squandering Aimlessly,” an exploration of how Americans apply their personal values to their money.
“Marketplace Morning Report” is a daily radio broadcast show covering the latest on markets, money, jobs and innovation that airs daily across nearly 800 stations nationally, with over 10 million weekly listeners.
Tune in to “Marketplace Morning Report” on your local public radio station or on marketplace.org for this in-depth reporting series beginning Friday, May 17.
Marketplace® is on a mission to raise the economic intelligence of the country. Its core programs — “Marketplace®,” “Marketplace Morning Report®” and “Marketplace Tech®” — are broadcast on more than 800 public radio stations nationwide and heard by more than 14 million weekly listeners. Marketplace podcasts, including “Make Me Smart with Kai & Molly,” “The Uncertain Hour®” and “Corner Office,” can be found at marketplace.org or on your favorite podcast app. The Marketplace portfolio of programs is produced and distributed by American Public Media®, one of the largest producers and distributors of public radio programming in the world. For more information on Marketplace, visit marketplace.org, follow us on Twitter @marketplace or like us on Facebook. For more information on American Public Media, visit americanpublicmedia.org.
About American Public Media
American Public Media® is the national programming division of Minnesota Public Radio® and reaches 20 million listeners via 1,000 radio stations nationwide each week. APM is one of the largest producers and distributors of public radio programming in the world, with a portfolio that includes BBC World Service, Marketplace® and the leading classical music programs in the nation. APM offers a diverse array of podcasts featuring the best in food, culture, entertainment, business and investigative journalism. For more information on APM, visit americanpublicmedia.org.
Source: Data are copyright Nielsen Audio. Data are estimates only.
Alison Ver Meulen
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