Bank of America Joins AARP to Help Fight Financial Exploitation

Preferred Rewards Members Will Now Receive a 31 Percent Discounted AARP Membership

Thursday, October 3, 2019 9:00 am EDT
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Bank of America and AARP today announced a collaboration to provide resources to help­ retirees combat financial exploitation. Through the collaboration, Bank of America will feature AARP educational content in the Bank of America Security Center. The additional content, focused on promoting security and fighting scams, will complement the Security Center’s full range of information related to the bank’s efforts to help clients to identify, avoid and resolve fraud events faster. Bank of America will also offer an exclusive 31 percent discount on a two-year AARP membership to its Preferred Rewards members, allowing them to take advantage of the wide range of AARP benefits and resources, in addition to the extensive list of rewards provided through the bank’s industry-leading loyalty program.

The collaboration reflects the commitment of both organizations to help people plan for the financial challenges that come with advanced life stages and to help identify and prevent fraud.

“As our clients navigate caregiving and retirement life stages, our goal is to help them manage and protect their finances and live their best financial life,” said Kieth Cockrell, head of Bank of America Specialty Client Services. “We’re thrilled to work with AARP to enhance all that we provide to our clients.”

AARP Senior Vice President of Digital Strategy and Membership Sami Hassanyeh added, “Because we know fighting fraud requires vigilance and ongoing awareness, we are excited that Bank of America Preferred Rewards participants will save on AARP membership and get the ongoing access to tools, tips and advocacy against financial exploitation they need to help protect them, their families and their life savings.”

Preferred Rewards is a three-tiered membership program available to Bank of America clients. Currently, nearly 6 million clients are enrolled in Preferred Rewards. It is the first no-fee program of its kind that recognizes and rewards clients for choosing to do more across their Bank of America banking and/or Merrill investment accounts. The loyalty program’s unique relationship-based approach provides members extensive rewards and benefits across their deposit accounts, investments, credit cards, mortgages, auto loans and banking services, as well as access to exclusive discounts and experiences. Last year, Bank of America launched Preferred Rewards for Business to provide business owners rewards and solutions to grow their businesses.

Visit bankofamerica.com/preferred-rewards for more information about the benefits and discounts offered in the Preferred Rewards program, and for more about AARP’s work against financial exploitation, visit https://www.aarp.org/money/scams-fraud/.

 

 

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,200 lending centers, 2,400 financial centers with a Consumer Investment Financial Solutions Advisor and 1,700 business centers; approximately 16,600 ATMs; and award-winning digital banking with more than 37 million active users, including approximately 28 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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Reporters May Contact:
Betty Riess, Bank of America, 1.415.913.4416
betty.riess@bofa.com