New York S06150 amends the banking law to mandate the development of guidelines for reporting suspected financial exploitation by the superintendent.

New York S06150 amends the banking law by adding a new section that requires the superintendent of the Department of Financial Services to develop guidelines for reporting suspected financial exploitation. These guidelines must include warning signs, evidence, reporting procedures, and applicable laws. The bill also provides immunity from civil liability for third parties reporting suspected financial abuse in good faith and according to these guidelines. The act will take effect 90 days after becoming law.

New York S06150 amends the banking law to mandate the development of guidelines for reporting suspected financial exploitation by the superintendent.

New York S06150 amends the banking law by adding a new section that requires the superintendent of the Department of Financial Services to develop guidelines for reporting suspected financial exploitation. These guidelines must include warning signs, evidence, reporting procedures, and applicable laws. The bill also provides immunity from civil liability for third parties reporting suspected financial abuse in good faith and according to these guidelines. The act will take effect 90 days after becoming law.