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2024 SESSION
SB 174 Financial institutions; reporting financial exploitation of elderly or vulnerable adults.
Introduced by: Barbara A. Favola | all patrons ... notes | add to my profiles
SUMMARY AS PASSED: (all summaries)
Financial institutions; reporting financial exploitation of elderly or vulnerable adults. Permits a financial institution to allow an elderly or vulnerable adult, as defined in the bill, to submit and periodically update a list of trusted persons whom such financial institution or financial institution staff, as defined in the bill, may contact in the case of the suspected financial exploitation of such adult. The bill also permits a financial institution to conduct a training to instruct its staff on how to identify and report the suspected financial exploitation of an elderly or vulnerable adult internally at such financial institution, to a designated trusted contact, and to various other authorities. The bill directs the Bureau of Financial Institutions of the State Corporation Commission to develop and publish guidelines for such training by January 1, 2026. The bill provides that no financial institution staff that have received such training shall be liable in any civil or administrative proceeding for disclosing the suspected financial exploitation of an elderly or vulnerable adult pursuant to the bill's provisions if such disclosure was made in good faith and with reasonable care. The bill provides that no financial institution that has provided such training shall be liable for any such disclosure by financial institution staff. This bill is identical to HB 692.
FULL TEXT
- 01/08/24 Senate: Prefiled and ordered printed; offered 01/10/24 24101504D pdf | impact statement
- 01/22/24 Senate: Committee substitute printed 24106027D-S1 pdf | impact statement
- 02/20/24 House: Committee substitute printed 24107880D-H1 pdf | impact statement
- 03/04/24 Senate: Bill text as passed Senate and House (SB174ER) pdf | impact statement
- 04/05/24 Governor: Acts of Assembly Chapter text (CHAP0578) pdf
AMENDMENTS
- House committee, floor amendments and substitutes offered
- Senate committee, floor amendments and substitutes offered
- House amendments adopted
- House amendments engrossed
HISTORY
- 01/08/24 Senate: Prefiled and ordered printed; offered 01/10/24 24101504D
- 01/08/24 Senate: Referred to Committee on Commerce and Labor
- 01/22/24 Senate: Reported from Commerce and Labor with substitute (15-Y 0-N)
- 01/22/24 Senate: Committee substitute printed 24106027D-S1
- 01/24/24 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/25/24 Senate: Read second time
- 01/25/24 Senate: Reading of substitute waived
- 01/25/24 Senate: Committee substitute agreed to 24106027D-S1
- 01/25/24 Senate: Engrossed by Senate - committee substitute SB174S1
- 01/26/24 Senate: Read third time and passed Senate (38-Y 0-N)
- 02/13/24 House: Placed on Calendar
- 02/13/24 House: Read first time
- 02/13/24 House: Referred to Committee on Labor and Commerce
- 02/20/24 House: Reported from Labor and Commerce with substitute (22-Y 0-N)
- 02/20/24 House: Committee substitute printed 24107880D-H1
- 02/22/24 House: Read second time
- 02/23/24 House: Read third time
- 02/23/24 House: Committee substitute agreed to 24107880D-H1
- 02/23/24 House: Amendment by Delegate Maldonado agreed to
- 02/23/24 House: Engrossed by House - committee substitute with amendment SB174H1
- 02/23/24 House: Passed House with substitute with amendment (96-Y 0-N)
- 02/23/24 House: VOTE: Passage (96-Y 0-N)
- 02/27/24 Senate: House substitute with amendment agreed to by Senate (39-Y 0-N)
- 02/27/24 Senate: Title replaced 24107880D-H1
- 03/04/24 Senate: Enrolled
- 03/04/24 Senate: Bill text as passed Senate and House (SB174ER)
- 03/04/24 House: Signed by Speaker
- 03/07/24 Senate: Signed by President
- 03/11/24 Senate: Enrolled Bill Communicated to Governor on March 11, 2024
- 03/11/24 Governor: Governor's Action Deadline 11:59 p.m., April 8, 2024
- 04/05/24 Governor: Approved by Governor-Chapter 578 (effective 7/1/24)
- 04/05/24 Governor: Acts of Assembly Chapter text (CHAP0578)