An Act protecting vulnerable adults from financial exploitation
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to protect vulnerable adults, particularly those with disabilities, from financial exploitation. It seeks to establish clearer guidelines and safeguards to prevent individuals with limited capacity from being taken advantage of financially. The legislation intends to strengthen existing protections and provide resources for identifying and addressing instances of financial abuse. It also encourages the reporting of suspected exploitation.
Key provisions
- Establishes definitions related to financial exploitation and vulnerable adults.
- Requires financial institutions and professionals to report suspected instances of exploitation.
- Creates a process for seeking court intervention to protect vulnerable adults from financial harm.
- Mandates training for professionals who work with vulnerable adults regarding financial exploitation.
- Supports the development of resources and programs to prevent and address financial abuse.
- Expands the definition of ‘vulnerable adult’ to include individuals with disabilities.
- Requires reporting of financial exploitation to the appropriate authorities.
- Establishes a reporting hotline for individuals to report suspected financial exploitation.
Who is affected
- Vulnerable adults with disabilities
- Financial institutions
- Professionals who work with vulnerable adults (e.g., social workers, healthcare providers)
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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