An Act protecting seniors and adults with disabilities from financial exploitation

HD 2001 requires financial institutions (like banks and investment advisors) and their employees to report suspected financial exploitation of seniors (60+ years old) or adults with disabilities. It allows these institutions to delay suspicious transactions involving vulnerable clients and mandates written notifications to authorities within two business days, including details about the suspected exploitation. The law protects reporters from liability when acting in good faith and keeps investigation records confidential. This directly affects financial institutions, their staff, and the vulnerable adults they serve.