S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4631
 
                        2019-2020 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 4, 2019
                                ___________
 
 Introduced  by  M.  of  A.  WRIGHT, M. G. MILLER, D'URSO, SIMON, WALKER,
   MOSLEY, CRESPO, PEOPLES-STOKES, WILLIAMS, JEAN-PIERRE -- read once and
   referred to the Committee on Aging
 
 AN ACT to amend the banking law, in relation to establishing the opt  in
   program for 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 article  2-D  to
 read as follows:
                                ARTICLE 2-D
                          FINANCIAL EXPLOITATION
 SECTION 90. OPT  IN PROGRAM FOR REPORTING OF SUSPECTED FINANCIAL EXPLOI-
               TATION.
   § 90. OPT IN PROGRAM FOR REPORTING OF  SUSPECTED  FINANCIAL  EXPLOITA-
 TION. 1. AS USED IN THIS ARTICLE:
   (A)  "ADULT  PROTECTIVE  SERVICES  AGENCY"  SHALL  MEAN A LOCAL SOCIAL
 SERVICES OFFICE PROVIDING ADULT PROTECTIVE SERVICES PURSUANT TO  SECTION
 FOUR HUNDRED SEVENTY-THREE OF THE SOCIAL SERVICES LAW;
   (B)  "FINANCIAL  EXPLOITATION"  SHALL  MEAN IMPROPER USE OF AN ADULT'S
 FUNDS, PROPERTY OR RESOURCES BY ANOTHER INDIVIDUAL,  INCLUDING  BUT  NOT
 LIMITED  TO,  FRAUD, FALSE PRETENSES, EMBEZZLEMENT, CONSPIRACY, FORGERY,
 FALSIFYING RECORDS, COERCED PROPERTY TRANSFERS, OR DENIAL OF  ACCESS  TO
 ASSETS; AND
   (C) "FINANCIAL INSTITUTION" SHALL MEAN BANKS, TRUST COMPANIES, PRIVATE
 BANKERS, SAVINGS BANKS, LICENSED LENDERS, SAVINGS AND LOAN ASSOCIATIONS,
 CREDIT  UNIONS, INVESTMENT COMPANIES, MUTUAL TRUST INVESTMENT COMPANIES,
 AND BANKING ORGANIZATIONS AS DEFINED IN SECTION TWO OF THIS CHAPTER THAT
 ARE LICENSED BY THE SUPERINTENDENT.
   (D) "ACCOUNT HOLDER" SHALL MEAN AN INDIVIDUAL WHO HAS AN INDIVIDUAL OR
 JOINT ACCOUNT WITH A FINANCIAL INSTITUTION.
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD00609-01-9
              

 A. 4631                             2
 
   2. THE DEPARTMENT SHALL DEVELOP A PROGRAM WHEREBY A FINANCIAL INSTITU-
 TION SHALL BE REQUIRED TO REPORT SUSPECTED FINANCIAL EXPLOITATION  OF  A
 PARTICIPATING   ACCOUNT  HOLDER  TO  THE  APPROPRIATE  ADULT  PROTECTIVE
 SERVICES AGENCY AND APPROPRIATE  LAW  ENFORCEMENT.  THIS  PROGRAM  SHALL
 OPERATE AS FOLLOWS:
   (A)  PARTICIPATION  IN  THIS  PROGRAM  SHALL BE OFFERED TO ALL ACCOUNT
 HOLDERS;
   (B) SUCH PARTICIPATION SHALL BE VOLUNTARY FOR ACCOUNT HOLDERS;
   (C) AN ACCOUNT HOLDER MAY REVOKE HIS OR HER PARTICIPATION AT ANY  TIME
 IN THE FORM AND MANNER PRESCRIBED BY THE DEPARTMENT;
   (D) IF AN OFFICER, DIRECTOR, AGENT OR EMPLOYEE OF A FINANCIAL INSTITU-
 TION,  ACTING  IN  HIS  OR  HER  OFFICIAL CAPACITY, HAS CAUSE TO SUSPECT
 FINANCIAL EXPLOITATION  OF  AN  ACCOUNT  HOLDER  PARTICIPATING  IN  SUCH
 PROGRAM,  SUCH  OFFICER,  DIRECTOR,  AGENT  OR EMPLOYEE SHALL REPORT, OR
 CAUSE TO BE REPORTED, SUCH SUSPECTED FINANCIAL EXPLOITATION  IN  ACCORD-
 ANCE  WITH RULES AND REGULATIONS PROMULGATED BY THE DEPARTMENT ON A FORM
 PRESCRIBED BY THE DEPARTMENT;
   (E) THE DEPARTMENT SHALL DEVELOP A FORM FOR USE  BY  FINANCIAL  INSTI-
 TUTIONS  THAT  AN ACCOUNT HOLDER MAY COMPLETE IN ORDER TO PARTICIPATE IN
 THIS PROGRAM AND A FORM BY WHICH AN ACCOUNT HOLDER MAY REVOKE HIS OR HER
 PARTICIPATION;
   (F) THE ORIGINAL FORM SHALL BE KEPT ON FILE BY THE FINANCIAL  INSTITU-
 TION AS LONG AS THE ACCOUNT HOLDER MAINTAINS AN ACCOUNT WITH SUCH FINAN-
 CIAL INSTITUTION AND A COPY SHALL BE FORWARDED TO THE DEPARTMENT AND THE
 ACCOUNT HOLDER; AND
   (G)  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, SENIOR
 CENTERS, INDEPENDENT LIVING CENTERS, DISABILITY  GROUPS,  THE  NEW  YORK
 STATE  OFFICE  FOR  THE  PREVENTION  OF  DOMESTIC VIOLENCE, AND DISTRICT
 ATTORNEYS, SHALL DEVELOP:
   (1) GUIDELINES FOR WHEN, HOW AND TO WHOM SUSPECTED FINANCIAL EXPLOITA-
 TION SHOULD BE REPORTED, WHETHER TO  ADULT  PROTECTIVE  SERVICES  AND/OR
 APPROPRIATE LAW ENFORCEMENT;
   (2) IDENTIFICATION OF WARNING SIGNS AND EVIDENCE THAT WOULD BE ACCEPT-
 ABLE INDICATORS OF FINANCIAL EXPLOITATION AND THAT MAY BE USED TO DETER-
 MINE A REASONABLE BASIS FOR REPORTING SUSPECTED FINANCIAL EXPLOITATION;
   (3)  INFORMATION  THAT  SHOULD  BE  INCLUDED  IN A REPORT OF SUSPECTED
 FINANCIAL ABUSE; AND
   (4) THE APPLICABLE LAWS, RULES AND REGULATIONS THAT MUST  BE  FOLLOWED
 WHILE REPORTING SUSPECTED FINANCIAL ABUSE.
   3. 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, SENIOR CENTERS, INDE-
 PENDENT LIVING CENTERS, DISABILITY GROUPS, THE NEW YORK STATE OFFICE FOR
 THE PREVENTION OF  DOMESTIC  VIOLENCE,  AND  DISTRICT  ATTORNEYS,  SHALL
 DEVELOP;
   (A) TRAINING FOR BANK EMPLOYEES CONCERNING THE GUIDELINES OF DEVELOPED
 PURSUANT TO SUBDIVISION TWO OF THIS SECTION THAT SHALL INCLUDE DISABILI-
 TY LITERACY TRAINING; AND
   (B)  A  BROCHURE  EDUCATING  BANK CUSTOMERS REGARDING THE REPORTING OF
 FINANCIAL EXPLOITATION AND HOW TO REPORT THAT THEY ARE BEING EXPLOITED.
   4. AN ACCOUNT HOLDER WHO HAS OPTED TO PARTICIPATE IN THIS PROGRAM  AND
 WHOSE  PARTICIPATION  HAS NOT BEEN REVOKED SHALL BE DEEMED TO HAVE GIVEN
 PERMISSION  FOR  REPORTS  OF  SUSPECTED  FINANCIAL  EXPLOITATION  TO  BE
 REFERRED TO APPROPRIATE LAW ENFORCEMENT, PROVIDING THAT SUCH REPORTS ARE

 A. 4631                             3
 
 MADE  IN ACCORDANCE WITH RULES AND REGULATIONS PRESCRIBED BY THE DEPART-
 MENT.
   5. IF AN ACCOUNT HOLDER HAS REVOKED PARTICIPATION IN THE PROGRAM, SUCH
 REVOCATION  SHALL  BE  EFFECTIVE  UPON RECEIPT OF SUCH REVOCATION BY THE
 FINANCIAL INSTITUTION. THEREAFTER,  NO  REPORT  OF  SUSPECTED  FINANCIAL
 EXPLOITATION  SHALL  BE  DEEMED  REQUIRED  BY  THIS  SECTION UNLESS SUCH
 ACCOUNT HOLDER CHOOSES TO PARTICIPATE IN THE PROGRAM AGAIN  AT  A  LATER
 POINT IN TIME.
   6.  A FINANCIAL INSTITUTION LOCATED OR DOING BUSINESS IN THIS STATE OR
 AN EMPLOYEE THEREOF WHO ACTS REASONABLY AND IN GOOD FAITH IN  ACCORDANCE
 WITH  THIS  SECTION  SHALL  HAVE  IMMUNITY FROM ANY CIVIL LIABILITY THAT
 MIGHT OTHERWISE RESULT BY REASON OF SUCH ACTIONS.
   7. ANY INFORMATION OR DOCUMENTATION SUBMITTED PURSUANT TO THIS SECTION
 SHALL NOT BE SUBJECT TO DISCLOSURE UNDER ARTICLE SIX OF THE PUBLIC OFFI-
 CERS LAW.
   8. NOTHING IN THIS SECTION SHALL BE DEEMED  TO  ALTER  OR  NEGATE  THE
 DUTIES  OF ANY FINANCIAL INSTITUTION OR ANY OFFICER, DIRECTOR, AGENT, OR
 EMPLOYEE THEREOF ESTABLISHED BY ANY OTHER PROVISION OF LAW.
   § 2. This act shall take effect on the sixtieth  day  after  it  shall
 have become a law.