Senate Bill S2804

2017-2018 Legislative Session

Relates to the report of suspected financial exploitation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2017-S2804 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5478
2015-2016: S2564
2019-2020: S5037
2021-2022: S5658
2023-2024: S7339

2017-S2804 (ACTIVE) - Summary

Relates to the report 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.

2017-S2804 (ACTIVE) - Sponsor Memo

2017-S2804 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2804
 
                        2017-2018 Regular Sessions
 
                             I N  S E N A T E
 
                             January 17, 2017
                                ___________
 
 Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
   printed to be committed to the Committee on Banks
 
 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:
   §  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;
   (C) TO WHOM SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
   (D) INFORMATION THAT SHOULD BE  INCLUDED  IN  A  REPORT  OF  SUSPECTED
 FINANCIAL ABUSE; AND
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

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