Fiduciary Institutions - Exploitation of Seniors and Vulnerable Adults - Protections and Required Referral (Vulnerable Adult Banking Protection Act)

Summary

The bill lets fiduciary institutions delay or deny disbursements from accounts of people 65 or older or who are deemed vulnerable if the institution suspects exploitation. It requires written notice to all authorized parties and to Adult Protective Services, law enforcement, or the state attorney, and obligates the institution to share relevant financial records. The law also gives banks limited immunity when they act in good faith under these rules.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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