NC S653

Creates consumer protections for residential contractors working on one- to three-family homes, including prohibitions on offering to pay insurance deductibles, providing upgrades as inducements, and obtaining powers of attorney from consumers.

Requires residential contractors to provide written contracts with detailed work estimates, cost breakdowns, property inspection statements, and copies of their license certification.

Grants consumers the right to cancel residential contractor agreements within three business days after receiving written notice from their insurance company that a claim is not covered, with full refund of payments within 10 days.

Requires the Attorney General to establish and maintain an Internet-accessible database of reports from financial institutions regarding suspected financial exploitation of older adults, accessible to law enforcement, district attorneys, and state regulatory agencies for investigation purposes only.

Mandates that financial institutions report suspected financial exploitation of disabled or older adults to the Attorney General, local law enforcement, and county departments of social services, with reports made in formats prescribed by the Attorney General.