HB 642 Summary

• Requires check cashers to promptly notify the director of the office of consumer protection if they reasonably believe financial exploitation of an elder (age 62+) or vulnerable adult may have occurred or is being attempted.

• Provides immunity from administrative or civil liability for check cashers who make good faith reports to the director or disclose information to associated individuals or third parties designated by the elder or vulnerable adult.

• Authorizes check cashers to refuse to cash checks if they reasonably believe the transaction may result in financial exploitation of an elder or vulnerable adult.

• Allows check cashers to provide relevant records to the director or law enforcement for investigations related to suspected financial exploitation, with records exempted from public disclosure.

• Exempts banks, trust companies, savings banks, savings and loan associations, financial services loan companies, and credit unions from these requirements.