Senate Bill S7339

2023-2024 Legislative Session

Relates to the report of suspected financial exploitation

download bill text pdf

Sponsored By

Current 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

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions

co-Sponsors

2023-S7339 (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-aa, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5478
2015-2016: S2564
2017-2018: S2804
2019-2020: S5037
2021-2022: S5658

2023-S7339 (ACTIVE) - Summary

Relates to the reporting 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.

2023-S7339 (ACTIVE) - Sponsor Memo

2023-S7339 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7339
 
                        2023-2024 Regular Sessions
 
                             I N  S E N A T E
 
                               May 19, 2023
                                ___________
 
 Introduced  by  Sens.  PARKER,  BAILEY,  COMRIE, HOYLMAN-SIGAL, PERSAUD,
   SANDERS, SEPULVEDA -- 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-aa  to
 read as follows:
   § 9-AA. 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;
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08070-01-3
 S. 7339                             2

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.