MS HB1328

Authorizes financial institutions to delay completion of financial transactions for up to 15 business days if they believe in good faith the transaction may result in or be the result of exploitation of an eligible person (vulnerable persons or those age 65 or older).

Transaction delays expire either upon the financial institution's good faith determination that exploitation will not occur, or after 15 business days unless the Department of Human Services or law enforcement requests an extension of up to 10 additional business days.

Requires financial institutions to promptly notify the Department of Human Services when a transaction is delayed and permits them to notify law enforcement, account co-signers, or other interested parties.

Grants financial institutions and their officers, directors, employees, and agents immunity from administrative, civil, or criminal liability for delaying transactions or disclosing information pursuant to this section.

Takes effect July 1, 2019.