Loading chat...
NY A04806
Bill
Status
2/6/2025
Primary Sponsor
Clyde Vanel
Click for details
AI Summary
-
Requires the Superintendent of Financial Services to develop guidelines for reporting suspected financial exploitation, in consultation with the Office for the Aging, Attorney General, financial services industry representatives, law enforcement, senior groups, and district attorneys
-
Defines financial exploitation as activity prohibited under specific penal law sections (including various fraud and larceny offenses) or activity meant to deprive individuals of assets through deceptive, manipulative, or illegal means
-
Guidelines must address warning signs of exploitation, when and to whom reports should be made, required information in reports, and applicable laws and regulations for reporting
-
Grants civil liability immunity to financial institutions and their employees who report suspected financial abuse in good faith and in accordance with the guidelines
-
Takes effect 90 days after becoming law
Legislative Description
Relates to the reporting of suspected financial exploitation; requires the superintendent of the department of financial services to develop guidelines relating to reporting suspected financial exploitation; provides that a third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.
Last Action
referred to banks
1/7/2026