This bill creates new protections for financial institutions that take action to prevent financial exploitation of seniors, vulnerable adults, and other consenting adults. Banks and credit unions can now respond to concerns about potential financial exploitation—such as fraud, theft, or misuse of power of attorney—without legal liability, as long as they act reasonably. The bill defines key terms like "financial exploitation" and "consenting adult" to clarify when financial institutions can intervene to protect vulnerable account holders.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 562
Delivered to the Governor H.J. 546
Signed by the President S.J. 506
Signed by the Speaker H.J. 529
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 461
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Passed, YEAS 8, NAYS 0.
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 272
House of Representatives Do Pass Passed, YEAS 56, NAYS 6. H.J. 321
Commerce and Energy Do Pass Passed, YEAS 11, NAYS 1.
Commerce and Energy Scheduled for hearing H.J. 1
First read in House and referred to House Commerce and Energy H.J. 176
Prime sponsor · Rep.
R
Prime sponsor · Sen.
R
Commerce and Energy — Do Pass
Do Pass
Commerce and Energy — Do Pass