CT HB07029

Defines "financial institution" to include banks, credit unions, and out-of-state financial institutions operating in Connecticut.

Defines "elderly person" as any individual age 60 or older and "financial exploitation" as unauthorized use or control of an elderly person's property, income, or funds for profit or advantage.

Authorizes financial institutions and their employees to delay or refuse to execute transactions or disbursements if they have reasonable cause to believe the transaction may involve financial exploitation of an elderly person.

Grants financial institutions and employees immunity from civil, criminal, or administrative liability for delaying, refusing, or failing to delay or refuse execution of transactions suspected of involving elderly financial exploitation.

Takes effect October 1, 2017.