Using Temporary Holds to Stop Elder Financial Exploitation: A Minnesota Case Study.

Abstract

Over half of US states have laws authorizing depository financial institutions to place temporary holds to protect an older adult's funds if financial exploitation is suspected. In Minnesota, the Department of Commerce receives referrals and assists financial institutions on hold decisions. To understand how often temporary holds are placed and what types of cases and victims receive a hold, we examine reporting trends from 2022 to 2025 and examine the correlates of hold placement in a subsample of 1,050 cases. We calculated the quarterly frequency of financial exploitation referrals and holds placed in Minnesota. Using logistic regression, we assessed whether victim age, sex, type of exploitation, referring entity, account type at risk, amount stolen ($), and amount at risk ($) were associated with hold placement. Reported cases and temporary holds increased 180% between 2022 and 2025. Hold placement was more likely if the amount stolen was $20,000+ and if the at-risk funds remaining were $20,000+. Temporary hold decisions may be influenced by the severity of exploitation and account values. Financial institutions need flexibility and regulatory guidance on how to appropriately use holds to stop exploitation.