Banking and Financial Services Provider Protections for Eligible Adults from Financial Exploitation

From the Legislature

The purpose of this bill is to provide banking protections for eligible adults from financial exploitation by permitting depository institutions to delay, refuse, or prevent certain activities and financial transactions when an entity or employer suspects financial exploitation of an elder adult or incapacitated adult may be at issue. This bill further permits disclosure of such activity or financial transaction to an eligible adults' authorized third-party as well as a designated state agency.