An Act amending the act of November 6, 1987 (P.L.381, No.79), known as the Older Adults Protective Services Act, providing for prevention of financial exploitation.
Referred to Aging & Older Adult Services
Summary
The bill adds a new chapter to Pennsylvania’s Older Adults Protective Services Act that obligates financial institutions and their employees to report suspected financial exploitation of seniors. It also lets institutions temporarily hold or refuse certain transactions while an investigation is under way. The goal is to protect older adults from fraud and improve coordination with aging agencies and law enforcement.
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