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

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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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-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1783
                              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 -- Multi-Sponsored by -- M. of A. ABBATE, DenDEKKER, MAGEE  --
         read once and referred to the Committee on Aging
       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)  "THIRD  PARTY"  SHALL MEAN ANY BANKING INSTITUTION, CREDIT UNION,
   11  INVESTMENT BROKERAGE, AND ANY OTHER ENTITY LICENSED BY  THE  SUPERINTEN-
   12  DENT.
   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:
   20    (A) THE TYPES OF WARNING SIGNS AND EVIDENCE THAT WOULD  BE  ACCEPTABLE
   21  INDICATORS OF FINANCIAL EXPLOITATION;
   22    (B) WHEN SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
   23    (C) TO WHOM SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD01899-01-3
       A. 1783                             2
    1    (D)  INFORMATION  THAT  SHOULD  BE  INCLUDED  IN A REPORT OF SUSPECTED
    2  FINANCIAL ABUSE; AND
    3    (E)  THE  APPLICABLE LAWS, RULES AND REGULATIONS THAT MUST BE FOLLOWED
    4  WHILE REPORTING SUSPECTED FINANCIAL ABUSE.
    5    3. A THIRD PARTY LOCATED OR DOING BUSINESS IN THIS STATE OR AN EMPLOY-
    6  EE THEREOF WHO, IN GOOD FAITH AND  IN  ACCORDANCE  WITH  THE  GUIDELINES
    7  PRESCRIBED  PURSUANT  TO THIS SECTION, REPORTS SUSPECTED FINANCIAL ABUSE
    8  SHALL HAVE IMMUNITY FROM ANY CIVIL  OR  CRIMINAL  LIABILITY  THAT  MIGHT
    9  OTHERWISE RESULT BY REASON OF SUCH ACTIONS.
   10    4.  THE  SUPERINTENDENT  IS  DIRECTED TO PROMULGATE ANY RULES OR REGU-
   11  LATIONS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS SECTION.
   12    S 2. This act shall take effect on the ninetieth day  after  it  shall
   13  have become a law.