Trusted contact program established to mitigate financial exploitation and fraud

Summary

The bill lets financial institutions let customers name one or more trusted contacts who can be notified when the institution cannot reach the customer or suspects fraud. It also authorizes providers to report suspected fraud to law‑enforcement and to offer limited‑access accounts for those contacts, while limiting the provider’s liability and granting immunity to contacts acting in good faith.

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

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