HB4767

Illinois HB4767 expands financial exploitation protections for elderly and disabled adults by allowing financial institutions to place holds on.

HB4767 amends Illinois law to expand protections against financial exploitation of elderly and disabled adults. It allows financial institutions to place holds on accounts if employees have a reasonable suspicion of exploitation. It requires certain employees of financial institutions to complete mandated reporter training. It details notification requirements for law enforcement and Adult Protective Services when exploitation is suspected. It also provides immunity from liability for financial institutions and employees who place holds in good faith. The law takes effect January 1, 2027.