HB913

Louisiana HB913 expands protections for eligible adults from financial exploitation by financial institutions.

Louisiana HB913 mandates training for financial institution employees on recognizing and responding to financial exploitation, including fraud types like tech support fraud and cryptocurrency fraud. The bill requires financial institutions to delay transactions if exploitation is suspected and to notify designated trusted contact persons. It also allows trusted contact persons to request transaction delays up to 25 business days. The bill expands the definition of "covered financial institution" to include brokerage firms, broker-dealers, and financial or investment advisors.