Introduced by Sen. Peter Lucido (R) on August 28, 2019
To require financial institutions to adopt various procedures, protocols, staff training, reports and more intended to reveal and prevent financial exploitation of individuals. The bill also prescribes the responses that law enforcement or other relevant agencies must adopt for responding to reports of financial exploitation. Among other things bank and financial institutions would have the authority to delay the disbursement of funds or freeze accounts in some cases, subject to procedures and limits specified in the bill. Official Text and Analysis.
Referred to the Senate Insurance and Banking Committee on August 28, 2019
Reported in the Senate on December 3, 2020
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.