NC H862

Requires the Attorney General to operate and maintain an internet-accessible database to collect reports of financial exploitation of seniors and disabled adults from financial institutions.

Grants access to the database to district attorneys, law enforcement agencies, the Commissioner of Banks, the State Bureau of Investigation, the Department of Insurance, the State Licensing Board for General Contractors, and other state or local agencies that interact with vulnerable adults, for investigation purposes only.

Designates database contents as confidential and not subject to public records laws, with the Attorney General required to implement privacy protections and mechanisms to delete incorrect or outdated information.

Requires financial institutions to report suspected financial exploitation of seniors and disabled adults to the Attorney General in addition to existing requirements to notify designated contacts, law enforcement, and county social services.

Appropriates $75,000 to the Department of Justice for the 2017-2018 fiscal year to establish the database, effective July 1, 2017, with reporting requirements effective January 1, 2018.