Enhances financial protections for disabled adults and older adults in North Carolina by prohibiting late fees and interest during certain periods.

The bill adds protections for disabled adults and older adults in North Carolina by requiring covered entities to report certain behaviors to social services and prohibiting these entities from charging late fees or interest. A "covered entity" is a financial institution that facilitates electronic fund transfers or extends credit. If a covered entity observes or suspects that a disabled adult or older adult is exhibiting materially harmful behavior or has ceased communication for six months, it must report this to social services.

Enhances financial protections for disabled adults and older adults in North Carolina by prohibiting late fees and interest during certain periods.

The bill adds protections for disabled adults and older adults in North Carolina by requiring covered entities to report certain behaviors to social services and prohibiting these entities from charging late fees or interest. A "covered entity" is a financial institution that facilitates electronic fund transfers or extends credit. If a covered entity observes or suspects that a disabled adult or older adult is exhibiting materially harmful behavior or has ceased communication for six months, it must report this to social services.