Introduced
by
To require financial institutions to adopt various procedures, protocols, staff training, reports and more intended to reveal and prevent financial exploitation of individuals. The bill also prescribes the responses that law enforcement or other relevant agencies must adopt for responding to reports of financial exploitation. Among other things bank and financial institutions would have the authority to delay the disbursement of funds or freeze accounts in some cases, subject to procedures and limits specified in the bill.
Referred to the Committee on Insurance and Banking
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Passed in the Senate 37 to 0 (details)
Referred to the Committee on Judiciary
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 103 to 2 (details)
To require financial institutions to adopt various procedures, protocols, staff training, reports and more intended to reveal and prevent financial exploitation of individuals. The bill also prescribes the responses that law enforcement or other relevant agencies must adopt for responding to reports of financial exploitation. Among other things bank and financial institutions would have the authority to delay the disbursement of funds or freeze accounts in some cases, subject to procedures and limits specified in the bill.
