S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 2564--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 26, 2015
                               ___________

Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
  printed to be committed to the Committee on Banks  --  recommitted  to
  the  Committee  on  Banks  in accordance with Senate Rule 6, sec. 8 --
  committee discharged, bill amended, ordered reprinted as  amended  and
  recommitted to said committee

AN  ACT  to amend the banking law, in relation to reporting of suspected
  financial exploitation

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.  The banking law is amended by adding a new section 9-x to
read as follows:
  S 9-X. REPORTING OF SUSPECTED FINANCIAL EXPLOITATION. 1. FOR  PURPOSES
OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A)  "FINANCIAL  EXPLOITATION" SHALL MEAN ACTIVITY PROHIBITED PURSUANT
TO SECTIONS 190.25, 190.26,  190.60,  190.65,  190.78,  190.79,  190.80,
190.80-A,  190.81, 190.82, AND 190.83 OF THE PENAL LAW OR ACTIVITY MEANT
TO DEPRIVE AN INDIVIDUAL OF ASSETS OR PROPERTY BY  DECEPTIVE,  MANIPULA-
TIVE, OR OTHER ILLEGAL MEANS.
  (B) "FINANCIAL INSTITUTION" SHALL MEAN ANY BANKING INSTITUTION, CREDIT
UNION, INVESTMENT BROKERAGE, AND ANY OTHER ENTITY LICENSED BY THE SUPER-
INTENDENT.
  (C)  "SUPERINTENDENT"  SHALL MEAN THE SUPERINTENDENT OF THE DEPARTMENT
OF FINANCIAL SERVICES.
  2. THE SUPERINTENDENT, IN CONSULTATION WITH THE DIRECTOR OF THE OFFICE
FOR THE AGING, THE ATTORNEY GENERAL, REPRESENTATIVES  OF  THE  FINANCIAL
SERVICES  INDUSTRY,  LAW ENFORCEMENT, SENIOR GROUPS, AND DISTRICT ATTOR-
NEYS, SHALL DEVELOP GUIDELINES RELATING TO REPORTING SUSPECTED FINANCIAL
EXPLOITATION. SUCH GUIDELINES SHALL INCLUDE, BUT NOT BE LIMITED TO:
  (A) THE TYPES OF WARNING SIGNS AND EVIDENCE THAT WOULD  BE  ACCEPTABLE
INDICATORS OF FINANCIAL EXPLOITATION;
  (B) WHEN SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06547-02-6
              

S. 2564--A                          2

  (C) TO WHOM SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
  (D)  INFORMATION  THAT  SHOULD  BE  INCLUDED  IN A REPORT OF SUSPECTED
FINANCIAL ABUSE; AND
  (E) THE APPLICABLE LAWS, RULES AND REGULATIONS THAT MUST  BE  FOLLOWED
WHILE REPORTING SUSPECTED FINANCIAL ABUSE.
  3.  A FINANCIAL INSTITUTION LOCATED OR DOING BUSINESS IN THIS STATE OR
AN EMPLOYEE THEREOF WHO, ACTING REASONABLY AND IN GOOD FAITH IN  ACCORD-
ANCE WITH THESE GUIDELINES, REPORTS SUSPECTED FINANCIAL ABUSE SHALL HAVE
IMMUNITY  FROM ANY CIVIL LIABILITY THAT MIGHT OTHERWISE RESULT BY REASON
OF SUCH ACTIONS.
  4. THE SUPERINTENDENT IS DIRECTED TO PROMULGATE  ANY  RULES  OR  REGU-
LATIONS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS SECTION.
  S  2.  This  act shall take effect on the ninetieth day after it shall
have become a law.