NY S02171

Establishes a financial outreach, education and training program targeting certified public accountants, attorneys, tax preparers, and financial institutions operating in New York State to identify and prevent financial exploitation of elderly persons.

Defines "financial institution" to include depository institutions, institution-affiliated parties, federal credit unions, and state credit unions as outlined in federal banking law.

Defines "financial exploitation" as improper use of an elderly person's funds, property, or resources including fraud, embezzlement, forgery, falsifying records, coerced property transfers, or denial of access to assets.

Requires designated agencies coordinating elderly abuse services to include capacity to work with banking, human service, and law enforcement agencies in addition to existing health and social service coordination requirements.

Takes effect 120 days after becoming law, with authorization for implementing rules and regulations to be adopted immediately upon enactment.