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Assembly Bill A10358

2011-2012 Legislative Session

Relates to the report of suspected financial exploitation

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Archive: Last Bill Status - In Assembly Committee

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2011-A10358 (ACTIVE) - Details

Current Committee:
Assembly Codes
Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: A1783
2015-2016: A5349
2017-2018: A6395
2019-2020: A6767

2011-A10358 (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.

2011-A10358 (ACTIVE) - Bill Text download pdf 

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

                                  10358

                          I N  A S S E M B L Y

                              May 24, 2012
                               ___________

Introduced  by  M.  of  A.  MILLMAN,  ROBINSON,  CRESPO -- read once and
  referred to the Committee on Aging

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-v  to
read as follows:
  S  9-V. 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) "THIRD PARTY" SHALL MEAN ANY BANKING  INSTITUTION,  CREDIT  UNION,
INVESTMENT  BROKERAGE,  AND ANY OTHER ENTITY LICENSED BY THE SUPERINTEN-
DENT.
  (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
  (E)  THE  APPLICABLE LAWS, RULES AND REGULATIONS THAT MUST BE FOLLOWED
WHILE REPORTING SUSPECTED FINANCIAL ABUSE.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD15936-01-2

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