WV SB848

Allows banks, broker-dealers, and investment advisers to delay or refuse transactions for up to 15 business days when they reasonably believe an eligible adult (persons 65+ or adults with substantial mental impairment) is being financially exploited

Requires financial institutions to promptly notify designated state agencies (WV Department of Human Services or Attorney General) when they believe financial exploitation of an eligible adult has occurred or been attempted

Permits financial institutions to notify associated third parties (family members, co-owners, attorneys, trustees) about suspected exploitation, unless that third party is believed to be involved in the exploitation

Defines financial exploitation as wrongful taking of money or property, or using deception, intimidation, or undue influence to obtain control over an eligible adult's assets, including through abuse of power of attorney or conservatorship

Shields financial institutions and their employees from private lawsuits for actions taken in good faith under this article, and exempts third-party disclosures from state privacy law requirements