Bill Text: NY A01783 | 2013-2014 | General Assembly | Amended

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Bill Title: 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 financial institution who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Spectrum: Strong Partisan Bill (Democrat 12-1)

Status: (Engrossed - Dead) 2014-06-16 - REFERRED TO RULES [A01783 Detail]

Download: New_York-2013-A01783-Amended.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        1783--B
                              2013-2014 Regular Sessions
                                 I N  A S S E M B L Y
                                      (PREFILED)
                                    January 9, 2013
                                      ___________
       Introduced  by  M.  of  A.  MILLMAN,  ROBINSON,  CRESPO, BRINDISI, RAIA,
         ROBERTS, OTIS, BROOK-KRASNY -- Multi-Sponsored by -- M. of A.  ABBATE,
         DenDEKKER,  MAGEE  -- read once and referred to the Committee on Aging
         -- committee discharged, bill amended, ordered  reprinted  as  amended
         and  recommitted  to  said  committee  -- reported and referred to the
         Committee on Codes --  committee  discharged,  bill  amended,  ordered
         reprinted as amended and recommitted to said committee
       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:
    1    Section  1.  The banking law is amended by adding a new section 9-v to
    2  read as follows:
    3    S 9-V. REPORTING OF SUSPECTED FINANCIAL EXPLOITATION. 1. FOR  PURPOSES
    4  OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
    5    (A)  "FINANCIAL  EXPLOITATION" SHALL MEAN ACTIVITY PROHIBITED PURSUANT
    6  TO SECTIONS 190.25, 190.26,  190.60,  190.65,  190.78,  190.79,  190.80,
    7  190.80-A,  190.81, 190.82, AND 190.83 OF THE PENAL LAW OR ACTIVITY MEANT
    8  TO DEPRIVE AN INDIVIDUAL OF ASSETS OR PROPERTY BY  DECEPTIVE,  MANIPULA-
    9  TIVE, OR OTHER ILLEGAL MEANS.
   10    (B) "FINANCIAL INSTITUTION" SHALL MEAN ANY BANKING INSTITUTION, CREDIT
   11  UNION, INVESTMENT BROKERAGE, AND ANY OTHER ENTITY LICENSED BY THE SUPER-
   12  INTENDENT.
   13    (C)  "SUPERINTENDENT"  SHALL MEAN THE SUPERINTENDENT OF THE DEPARTMENT
   14  OF FINANCIAL SERVICES.
   15    2. THE SUPERINTENDENT, IN CONSULTATION WITH THE DIRECTOR OF THE OFFICE
   16  FOR THE AGING, THE ATTORNEY GENERAL, REPRESENTATIVES  OF  THE  FINANCIAL
   17  SERVICES  INDUSTRY,  LAW ENFORCEMENT, SENIOR GROUPS, AND DISTRICT ATTOR-
   18  NEYS, SHALL DEVELOP GUIDELINES RELATING TO REPORTING SUSPECTED FINANCIAL
   19  EXPLOITATION. SUCH GUIDELINES SHALL INCLUDE, BUT NOT BE LIMITED TO:
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01899-03-3
       A. 1783--B                          2
    1    (A) THE TYPES OF WARNING SIGNS AND EVIDENCE THAT WOULD  BE  ACCEPTABLE
    2  INDICATORS OF FINANCIAL EXPLOITATION;
    3    (B) WHEN SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
    4    (C) TO WHOM SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
    5    (D)  INFORMATION  THAT  SHOULD  BE  INCLUDED  IN A REPORT OF SUSPECTED
    6  FINANCIAL ABUSE; AND
    7    (E) THE APPLICABLE LAWS, RULES AND REGULATIONS THAT MUST  BE  FOLLOWED
    8  WHILE REPORTING SUSPECTED FINANCIAL ABUSE.
    9    3.  A FINANCIAL INSTITUTION LOCATED OR DOING BUSINESS IN THIS STATE OR
   10  AN EMPLOYEE THEREOF WHO, ACTING REASONABLY AND IN GOOD FAITH IN  ACCORD-
   11  ANCE WITH THESE GUIDELINES, REPORTS SUSPECTED FINANCIAL ABUSE SHALL HAVE
   12  IMMUNITY  FROM ANY CIVIL LIABILITY THAT MIGHT OTHERWISE RESULT BY REASON
   13  OF SUCH ACTIONS.
   14    4. THE SUPERINTENDENT IS DIRECTED TO PROMULGATE  ANY  RULES  OR  REGU-
   15  LATIONS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS SECTION.
   16    S  2.  This  act shall take effect on the ninetieth day after it shall
   17  have become a law.