California AB83 aims to prevent financial abuse of eligible adults by allowing banks to delay transactions.

California AB83, known as the California Elder Financial Abuse Prevention Act, empowers banks to delay or refuse transactions involving eligible adults suspected of financial abuse. This includes preventing withdrawals, changes in account ownership, and transfers of funds. Banks can act based on information from government agencies or their own observations. The act defines "eligible adult" as someone aged 65 or older, or someone aged 18 or older with a substantial mental or functional impairment. Banks can extend delays if they believe the abuse may continue.

California AB83 aims to prevent financial abuse of eligible adults by allowing banks to delay transactions.

California AB83, known as the California Elder Financial Abuse Prevention Act, empowers banks to delay or refuse transactions involving eligible adults suspected of financial abuse. This includes preventing withdrawals, changes in account ownership, and transfers of funds. Banks can act based on information from government agencies or their own observations. The act defines "eligible adult" as someone aged 65 or older, or someone aged 18 or older with a substantial mental or functional impairment. Banks can extend delays if they believe the abuse may continue.