Bill Text: NY A06767 | 2019-2020 | General Assembly | Introduced

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Bill Title: Relates to the report of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Introduced - Dead) 2020-01-08 - referred to aging [A06767 Detail]

Download: New_York-2019-A06767-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          6767
                               2019-2020 Regular Sessions
                   IN ASSEMBLY
                                     March 19, 2019
                                       ___________
        Introduced  by M. of A. BRONSON -- read once and referred to the Commit-
          tee on Aging
        AN ACT to amend the banking law, in relation to reporting  of  suspected
          financial exploitation
          The  People of the State of New York, represented in Senate and Assem-
        bly, do enact as follows:
     1    Section 1. The banking law is amended by adding a new section  9-x  to
     2  read as follows:
     3    §  9-x. Reporting of suspected financial exploitation. 1. For purposes
     4  of this section, the following terms shall have the following meanings:
     5    (a) "financial exploitation" shall mean activity  prohibited  pursuant
     6  to  sections  190.25,  190.26,  190.60,  190.65, 190.78, 190.79, 190.80,
     7  190.80-a, 190.81, 190.82, and 190.83 of the penal law or activity  meant
     8  to  deprive  an individual of assets or property by deceptive, manipula-
     9  tive, or other illegal means.
    10    (b) "banking institution" shall have the same meaning as in  paragraph
    11  (b) of subdivision three of section nine-f of this chapter.
    12    (c)  "superintendent"  shall mean the superintendent of the department
    13  of financial services.
    14    2. The superintendent, in consultation with the director of the office
    15  for the aging, the attorney general, representatives  of  the  financial
    16  services  industry,  law  enforcement, senior groups, disability groups,
    17  and district attorneys, shall develop guidelines relating  to  reporting
    18  suspected financial exploitation. Such guidelines shall include, but not
    19  be limited to:
    20    (a)  the  types of warning signs and evidence that would be acceptable
    21  indicators of financial exploitation;
    22    (b) when suspected financial exploitation should be reported;
    23    (c) to whom suspected financial exploitation should be reported;
    24    (d) information that should be  included  in  a  report  of  suspected
    25  financial abuse; and
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07688-01-9
        A. 6767                             2
     1    (e)  the  applicable laws, rules and regulations that must be followed
     2  while reporting suspected financial abuse.
     3    3. The superintendent, in consultation with the director of the office
     4  for  the  aging,  the attorney general, representatives of the financial
     5  services industry, law enforcement, senior groups, disability groups and
     6  district attorneys,  shall  develop  (i)  training  for  bank  employees
     7  concerning  the guidelines developed pursuant to subdivision two of this
     8  section that shall include disability  literacy  training;  and  (ii)  a
     9  brochure  educating  bank customers regarding the reporting of financial
    10  exploitation and how to report that they are being exploited.
    11    4. A banking institution located or doing business in this state or an
    12  employee thereof who, acting reasonably and in good faith in  accordance
    13  with  these  guidelines,  reports  suspected  financial abuse shall have
    14  immunity from any civil liability that might otherwise result by  reason
    15  of such actions.
    16    5.  The  superintendent  is  directed to promulgate any rules or regu-
    17  lations necessary to carry out the provisions of this section.
    18    § 2. This act shall take effect on the ninetieth day  after  it  shall
    19  have become a law.