senate Bill S5675

2013-2014 Legislative Session

Relates to the report of suspected financial exploitation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Jun 03, 2013 referred to banks

S5675 - Details

See Assembly Version of this Bill:
A1783B
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add ยง9-v, Bank L
Versions Introduced in 2011-2012 Legislative Session:
A10358

S5675 - 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 financial institution who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

S5675 - Sponsor Memo

S5675 - Bill Text download pdf

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

                                  5675

                       2013-2014 Regular Sessions

                            I N  S E N A T E

                              June 3, 2013
                               ___________

Introduced  by  Sen.  ADAMS  -- 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-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) "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.
                                                           LBD01899-05-3

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