HB555

Louisiana HB555 amends financial exploitation laws to extend the delay period for financial transactions suspected of exploitation.

Louisiana HB555 amends existing law to enhance protections against financial exploitation of eligible adults. The bill expands the definition of "financial exploitation" to include the use of scams, deceptive schemes, enticement, extortion, or impersonation of government officials. It also increases the period a financial institution may delay a financial transaction when exploitation is suspected, extending it from 25 to 45 business days. This change aims to provide more time for investigations and to protect vulnerable individuals from financial harm.