Colorado HB1110 establishes protections for vulnerable adults from financial exploitation by financial institutions.

Colorado HB1110, also known as the "Adults' Security and Safeguards from Exploitation in Transactions Act" or the "ASSET Act," requires financial institutions to take specific actions when they reasonably suspect that a vulnerable adult may be the victim of financial exploitation. A qualified individual at a financial institution must notify local law enforcement or the county agency handling adult protective services and may notify a third party designated by the eligible adult, excluding those suspected of exploitation.

Colorado HB1110 establishes protections for vulnerable adults from financial exploitation by financial institutions.

Colorado HB1110, also known as the "Adults' Security and Safeguards from Exploitation in Transactions Act" or the "ASSET Act," requires financial institutions to take specific actions when they reasonably suspect that a vulnerable adult may be the victim of financial exploitation. A qualified individual at a financial institution must notify local law enforcement or the county agency handling adult protective services and may notify a third party designated by the eligible adult, excluding those suspected of exploitation.