Maryland HB1008 protects vulnerable adults from financial exploitation by allowing fiduciary institutions to delay disbursements and share records.

Maryland HB1008, known as the Vulnerable Adult Banking Protection Act, allows fiduciary institutions to delay or deny disbursements if they suspect financial exploitation of vulnerable adults. Institutions must notify relevant parties and provide status updates. They must also share financial records with Adult Protective Services, law enforcement, or the State's Attorney. The bill defines "vulnerable adult" and "financial exploitation," and provides immunity from liability for institutions acting in good faith.

Maryland HB1008 protects vulnerable adults from financial exploitation by allowing fiduciary institutions to delay disbursements and share records.

Maryland HB1008, known as the Vulnerable Adult Banking Protection Act, allows fiduciary institutions to delay or deny disbursements if they suspect financial exploitation of vulnerable adults. Institutions must notify relevant parties and provide status updates. They must also share financial records with Adult Protective Services, law enforcement, or the State's Attorney. The bill defines "vulnerable adult" and "financial exploitation," and provides immunity from liability for institutions acting in good faith.