Mandated reporters of suspected financial abuse of an elder or dependent adult.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Enrolled
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill expands the requirements for reporting suspected financial abuse of elders and dependent adults. It designates financial institution employees and officers as ‘mandated reporters,’ requiring them to report suspected abuse to Adult Protective Services, law enforcement, and the FBI’s Internet Crime Complaint Center. The bill also mandates that financial institutions provide annual training to their employees on reporting procedures and requires them to notify the victim within 48 hours of a suspected incident and share reporting mechanisms. Finally, it requires financial institutions to notify the elder or dependent adult if financial abuse is discovered within 48 hours of a transaction.
Key provisions
- Designates financial institution employees and officers as mandated reporters of suspected financial abuse.
- Requires reporting to Adult Protective Services and local law enforcement agencies.
- Mandates reporting to the FBI’s Internet Crime Complaint Center within 48 hours.
- Requires financial institutions to provide annual training on reporting procedures.
- Requires financial institutions to notify the elder or dependent adult within 48 hours of a suspected incident.
- Requires financial institutions to share reporting mechanisms with the impacted elder or dependent adult within 24 to 48 hours.
- Specifies that violations of reporting requirements will not result in civil penalties.
- Establishes a January 1, 2028, effective date.
Who is affected
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Sponsors
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11 on record
Primary sponsor
Cosponsors
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