Ohio HB560 establishes measures to protect vulnerable adults from financial exploitation by financial institutions.

Ohio HB560, known as the Protect Our Parents Act, aims to safeguard vulnerable adults from financial exploitation by financial institutions. The bill defines "financial exploitation" as the unauthorized use of an eligible adult's money, assets, or property, or obtaining control over these through deception or undue influence. If a financial institution suspects exploitation, it must follow internal policies and notify relevant authorities. The bill also mandates training for employees on recognizing and preventing exploitation.

Ohio HB560 establishes measures to protect vulnerable adults from financial exploitation by financial institutions.

Ohio HB560, known as the Protect Our Parents Act, aims to safeguard vulnerable adults from financial exploitation by financial institutions. The bill defines "financial exploitation" as the unauthorized use of an eligible adult's money, assets, or property, or obtaining control over these through deception or undue influence. If a financial institution suspects exploitation, it must follow internal policies and notify relevant authorities. The bill also mandates training for employees on recognizing and preventing exploitation.