SENIORS OVER 65: Banks Can Now Freeze Your Account — Unless You Make This ONE Call

Banks can legally freeze accounts of customers aged 65 or older for up to 19 days without evidence of fraud, court orders, or customer permission, due to state legislation and FINRA Rule 4512; however, seniors can protect themselves by making a single phone call to request a Trusted Contact Person designation and a standing transaction authorization letter, which legally requires banks to contact the designated person before placing any hold on the account.