MA H1239

Creates new Chapter 167D 1/2 allowing financial institutions to report suspected financial exploitation of eligible adults (persons 60+ or disabled) to the Division of Banks Commissioner and adult protective services agencies

Authorizes financial institutions to delay suspicious disbursements or transactions for up to 21 business days when there is reasonable cause to believe financial exploitation may occur, with required notification to account parties within 2 business days

Requires financial institutions to report investigation results to the Commissioner within 10 business days of initiating a transaction delay

Grants immunity from administrative and civil liability to financial institutions and qualified individuals who comply with the chapter in good faith and with reasonable care

Mandates that financial institutions provide relevant records to the Commissioner, adult protective services, or law enforcement during exploitation investigations, with such records remaining non-public