LA HB913

Expands "covered financial institution" definition to include brokerage firms, broker-dealers, and financial/investment advisers operating in Louisiana, in addition to banks, credit unions, and savings institutions

Requires financial institutions to offer eligible adults the option to designate one or more "trusted contact persons" (age 18+) when opening accounts and at least annually thereafter, and mandates notification to these contacts when financial exploitation is suspected

Mandates biannual training for all officers and employees on recognizing exploitation, including tech support fraud, government impersonation fraud, investment fraud, romance fraud, and cryptocurrency fraud

Requires financial institutions to delay transactions when directed by a trusted contact person (current law only permits voluntary delays), with delays extendable up to 25 business days at the trusted contact's request

Removes immunity protections for financial institutions that fail to comply with the new mandatory requirements regarding trusted contact person notifications and transaction delays