H.B. 648 - Suspicious Wire Transfers Temporary Hold Act

• Allows financial institution employees to place a hold on transactions for vulnerable adults (age 60+, or ages 18+ with mental/physical disability) if they reasonably believe the transaction involves financial exploitation.

• Holds may not exceed 15 days from the date the transaction was requested and require the employee to report suspected exploitation to a supervisor before placing the hold.

• Financial institutions must notify the vulnerable adult, authorized users, trustees, legal guardians, and the Ohio Attorney General's consumer protection division when a hold is placed, but cannot notify suspected perpetrators.

• Allows money transmitters and their agents to place similar holds on transactions involving vulnerable adults with the same 15-day limit and notification requirements.

• Provides immunity from civil, criminal, and disciplinary liability to employees and institutions acting in good faith with reasonable care when placing or not placing holds on transactions.