senate Bill S6927

2013-2014 Legislative Session

Relates to establishing the opt in program for reporting of suspected financial exploitation

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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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Actions

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Assembly Actions - Lowercase
Senate Actions - UPPERCASE
May 21, 2014 reported and committed to finance
Apr 02, 2014 referred to banks

Votes

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May 21, 2014 - Banks committee Vote

S6927
15
0
committee
15
Aye
0
Nay
4
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show Banks committee vote details

Co-Sponsors

S6927 - Details

See Assembly Version of this Bill:
A7345B
Current Committee:
Law Section:
Banking Law
Laws Affected:
Add Art 2-D ยง90, Bank L

S6927 - Summary

Establishes the opt in program for reporting of suspected financial exploitation.

S6927 - Bill Text download pdf

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

                                  6927

                            I N  S E N A T E

                              April 2, 2014
                               ___________

Introduced  by  Sen.  GOLDEN -- 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 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.
  S 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.
  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:

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

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