NY A04037

Creates a voluntary opt-in program allowing account holders at financial institutions to report suspected financial exploitation to adult protective services agencies and law enforcement.

Defines financial exploitation as improper use of an adult's funds, property, or resources including fraud, embezzlement, forgery, and coerced property transfers.

Requires the superintendent of banks, in consultation with the office for the aging, attorney general, law enforcement, and senior/disability groups, to develop guidelines, training, and educational materials for identifying and reporting suspected financial exploitation.

Provides immunity from civil liability to financial institutions and their employees who act reasonably and in good faith when reporting suspected financial exploitation under this program.

Takes effect 60 days after becoming law.