HB 411 Summary

• Requires the Department of Senior Services and Department of Banking to jointly develop minimum training standards for financial institution employees with direct customer contact regarding elderly exploitation.

• Banking Department retains sole authority for visitation and enforcement of training standards and must provide bi-annual reports to the Department of Senior Services on training program statistics.

• Mandates officers, trustees, and employees of financial institutions with reasonable cause to believe a protected person has been subjected to exploitation to report the matter in accordance with Alabama's mandatory reporter provisions.

• Adds "financial institution" (banks, savings and loan associations, credit unions) to the definition section of elder protection law and expands mandatory reporting obligations beyond healthcare practitioners and caregivers.

• Becomes effective on the first day of the third month following passage and approval by the Governor.