|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|May 10, 2018||referred to banks|
senate Bill S8754
Archive: Last Bill Status - In Senate Committee Banks Committee
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S8754 (ACTIVE) - Details
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
BILL NUMBER: S8754 SPONSOR: SEPULVEDA TITLE OF BILL: An act to amend the banking law, in relation to reporting of suspected financial exploitation PURPOSE: To encourage voluntary reporting of suspected financial exploitation. SUMMARY OF PROVISIONS: This bill would direct the Superintendent of the Department of Financial Services to develop guidelines for reporting suspected financial exploi- tation in consultation with the State Office for the Aging, NYS Attorney General, representatives of the financial services industry, law enforcement, senior groups, disability groups, and district attorneys. This bill would also direct the Superintendent, along with the other
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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