Pennsylvania SB738 aims to prevent financial exploitation of older adults by financial institutions.

Pennsylvania SB738 establishes measures to prevent financial exploitation of older adults by financial institutions. It mandates financial institutions to report suspected financial exploitation to designated representatives, who must then report to relevant agencies. Financial institutions can temporarily hold, refuse, or prevent transactions if they suspect exploitation. The bill also outlines immunity for financial institutions and their representatives from civil and criminal liability for actions taken in good faith.

Pennsylvania SB738 aims to prevent financial exploitation of older adults by financial institutions.

Pennsylvania SB738 establishes measures to prevent financial exploitation of older adults by financial institutions. It mandates financial institutions to report suspected financial exploitation to designated representatives, who must then report to relevant agencies. Financial institutions can temporarily hold, refuse, or prevent transactions if they suspect exploitation. The bill also outlines immunity for financial institutions and their representatives from civil and criminal liability for actions taken in good faith.