A 4541
Requires, or sanctions, as appropriate, financial institutions to take certain action when senior or vulnerable customers make certain financial transactions.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill requires, or sanctions, financial institutions to take specific actions when senior or vulnerable customers make certain financial transactions. It mandates that institutions review and potentially delay transactions suspected of being scams or exploitation. The bill also establishes definitions for ‘senior customer’ and ‘vulnerable customer,’ and requires financial institutions to provide training to employees on recognizing and preventing financial exploitation. Furthermore, it allows for the release of financial records to county adult protective services providers and law enforcement agencies under certain circumstances.
Sponsors
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Primary sponsors
Carol Murphy
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