senate Bill S8754

2017-2018 Legislative Session

Relates to the report of suspected financial exploitation

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Banks 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 10, 2018 referred to banks

S8754 (ACTIVE) - Details

See Assembly Version of this Bill:
A6395
Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2011-2012: A10358
2013-2014: A1783
2015-2016: A5349
2019-2020: A6767

S8754 (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.

S8754 (ACTIVE) - Sponsor Memo

S8754 (ACTIVE) - Bill Text download pdf


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

                                  8754

                            I N  S E N A T E

                              May 10, 2018
                               ___________

Introduced by Sen. 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-x to
read as follows:
  § 9-X. 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)  "BANKING INSTITUTION" SHALL HAVE THE SAME MEANING AS IN PARAGRAPH
(B) OF SUBDIVISION THREE OF SECTION NINE-F OF THIS CHAPTER.
  (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,  DISABILITY  GROUPS,
AND  DISTRICT  ATTORNEYS, 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.

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