|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jan 08, 2014||referred to banks|
|Jan 14, 2013||referred to banks|
senate Bill S2162
Archive: Last Bill Status - In Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S2162 - Details
S2162 - Summary
Relates to reporting of financial exploitation; establishes a financial exploitation, outreach, education and training program and fund.
S2162 - Sponsor Memo
BILL NUMBER:S2162 TITLE OF BILL: An act to amend the banking law and the elder law, in relation to financial exploitation; and to amend the state finance law, in relation to establishing the financial exploitation, outreach, educa- tion and training fund PURPOSE OR GENERAL IDEA OF BILL: To ensure that those individuals who may have access to seniors financial information are trained to detect suspected financial abuse and report the suspected abuse so that if abuse is occurring, it can be mitigated and the perpetrator can be brought to justice. SUMMARY OF SPECIFIC PROVISIONS: Section 1 amends the banking law by adding a new section 9-v which creates a reporting process of suspected financial exploitation for individuals ages sixty and older. Section 2 authorizes the director of the state office for the aging to conduct outreach, education and training for financial institutions. Section 3 amends the elder law by adding a new section 219-a which creates a financial exploitation, outreach, education:and training Program.
S2162 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2162 2013-2014 Regular Sessions I N S E N A T E January 14, 2013 ___________ Introduced by Sen. VALESKY -- read twice and ordered printed, and when printed to be committed to the Committee on Banks AN ACT to amend the banking law and the elder law, in relation to finan- cial exploitation; and to amend the state finance law, in relation to establishing the financial exploitation, outreach, education and training fund 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. AS USED IN THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS: (A) "FINANCIAL INSTITUTION" SHALL MEAN ANY OF THE FOLLOWING: (1) A DEPOSITORY INSTITUTION, AS DEFINED IN SECTION 3(C) OF THE FEDER- AL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(C)). (2) AN INSTITUTION-AFFILIATED PARTY, AS DEFINED IN SECTION 3(U) OF THE FEDERAL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(U)). (3) A FEDERAL CREDIT UNION OR STATE CREDIT UNION, AS DEFINED IN SECTION 101 OF THE FEDERAL CREDIT UNION ACT (12 U.S.C. SEC. 1752), INCLUDING, BUT NOT LIMITED TO, AN INSTITUTION-AFFILIATED PARTY OF A CREDIT UNION, AS DEFINED IN SECTION 206(R) OF THE FEDERAL CREDIT UNION ACT (12 U.S.C. SEC. 1786(R)). (B) "ELDERLY PERSON" SHALL MEAN A PERSON SIXTY YEARS OF AGE OR OLDER. (C) "FINANCIAL EXPLOITATION" SHALL MEAN IMPROPER USE OF AN ELDERLY PERSON'S FUNDS, PROPERTY OR RESOURCES BY ANOTHER INDIVIDUAL, INCLUDING BUT NOT LIMITED TO FRAUD, FALSE PRETENSES, MISREPRESENTATION, EMBEZZLE- MENT, CONSPIRACY, FORGERY, FALSIFYING RECORDS, COERCED PROPERTY TRANS- FERS OR DENIAL OF ACCESS TO ASSETS. 2. ANY CERTIFIED PUBLIC ACCOUNTANT OR ATTORNEY LICENSED IN THIS STATE, ANY PREPARER OF TAXES OPERATING IN THIS STATE, AND ANY OFFICER OR EMPLOYEE OF A FINANCIAL INSTITUTION LOCATED WITHIN THIS STATE, WHO EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD04824-01-3
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