WI SB970

Financial service providers may refuse or delay transactions on accounts of vulnerable adults (age 65+ or those with physical/mental conditions impairing self-care) when financial exploitation is suspected, including transactions on the victim's account, accounts where they are a beneficiary, or accounts of suspected perpetrators

Transaction holds expire after 5 business days unless an elder-adult-at-risk agency, adult-at-risk agency, or law enforcement requests an extension up to 15 business days; courts may order longer extensions

Financial service providers may also act on information from protective services agencies or law enforcement indicating potential exploitation, and must report incidents to the applicable at-risk agency

Providers may refuse to accept a power of attorney if they reasonably suspect the vulnerable adult principal is being financially exploited by the agent

Financial service providers and their employees acting in good faith receive immunity from criminal, civil, and administrative liability for refusing/delaying transactions, accepting/refusing powers of attorney, and related actions based on reasonable suspicion