AB 909
Financial abuse of an elder or dependent adult: fraudulent transactions: liability.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Banking and Finance
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill aims to strengthen protections for seniors and dependent adults from financial abuse. It updates California law to better address fraudulent transactions involving these vulnerable populations, increasing penalties for financial institutions that fail to report suspected abuse. Specifically, it creates new provisions regarding ‘fraudulently induced transactions,’ defines key terms like ‘injured consumer,’ and mandates that financial institutions investigate consumer claims of abuse within a specific timeframe. The bill also increases civil penalties for non-compliance and allows victims to sue financial institutions for failing to protect them from fraud.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.