Bill Text: NY S02162 | 2013-2014 | General Assembly | Introduced
Bill Title: Relates to reporting of financial exploitation; establishes a financial exploitation, outreach, education and training program and fund.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2014-01-08 - REFERRED TO BANKS [S02162 Detail]
Download: New_York-2013-S02162-Introduced.html
S T A T E O F N E W Y O R K
________________________________________________________________________
2162
2013-2014 Regular Sessions
I N S E N A T E
January 14, 2013
___________
Introduced by Sen. VALESKY -- read twice and ordered printed, and when
printed to be committed to the Committee on Banks
AN ACT to amend the banking law and the elder law, in relation to finan-
cial exploitation; and to amend the state finance law, in relation to
establishing the financial exploitation, outreach, education and
training fund
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. AS USED IN
4 THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
5 (A) "FINANCIAL INSTITUTION" SHALL MEAN ANY OF THE FOLLOWING:
6 (1) A DEPOSITORY INSTITUTION, AS DEFINED IN SECTION 3(C) OF THE FEDER-
7 AL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(C)).
8 (2) AN INSTITUTION-AFFILIATED PARTY, AS DEFINED IN SECTION 3(U) OF THE
9 FEDERAL DEPOSIT INSURANCE ACT (12 U.S.C. SEC. 1813(U)).
10 (3) A FEDERAL CREDIT UNION OR STATE CREDIT UNION, AS DEFINED IN
11 SECTION 101 OF THE FEDERAL CREDIT UNION ACT (12 U.S.C. SEC. 1752),
12 INCLUDING, BUT NOT LIMITED TO, AN INSTITUTION-AFFILIATED PARTY OF A
13 CREDIT UNION, AS DEFINED IN SECTION 206(R) OF THE FEDERAL CREDIT UNION
14 ACT (12 U.S.C. SEC. 1786(R)).
15 (B) "ELDERLY PERSON" SHALL MEAN A PERSON SIXTY YEARS OF AGE OR OLDER.
16 (C) "FINANCIAL EXPLOITATION" SHALL MEAN IMPROPER USE OF AN ELDERLY
17 PERSON'S FUNDS, PROPERTY OR RESOURCES BY ANOTHER INDIVIDUAL, INCLUDING
18 BUT NOT LIMITED TO FRAUD, FALSE PRETENSES, MISREPRESENTATION, EMBEZZLE-
19 MENT, CONSPIRACY, FORGERY, FALSIFYING RECORDS, COERCED PROPERTY TRANS-
20 FERS OR DENIAL OF ACCESS TO ASSETS.
21 2. ANY CERTIFIED PUBLIC ACCOUNTANT OR ATTORNEY LICENSED IN THIS STATE,
22 ANY PREPARER OF TAXES OPERATING IN THIS STATE, AND ANY OFFICER OR
23 EMPLOYEE OF A FINANCIAL INSTITUTION LOCATED WITHIN THIS STATE, WHO
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD04824-01-3
S. 2162 2
1 REVIEWS OR APPROVES AN ELDERLY PERSON'S FINANCIAL DOCUMENTS, RECORDS OR
2 TRANSACTIONS, IN CONNECTION WITH PROVIDING FINANCIAL AND/OR LEGAL
3 SERVICES TO OR ON BEHALF OF AN ELDERLY PERSON SHALL BE REQUIRED TO
4 REPORT IN ACCORDANCE WITH THIS SECTION WHEN SUCH INDIVIDUAL, WITHIN THE
5 SCOPE OF HIS OR HER EMPLOYMENT OR PROFESSIONAL PRACTICE, HAS REASONABLE
6 CAUSE TO BELIEVE THAT SUCH ELDERLY PERSON HAS BEEN OR IS BEING SUBJECTED
7 TO FINANCIAL EXPLOITATION. A BANK TELLER SHALL BE EXEMPT FROM THE
8 REQUIREMENTS OF THIS SECTION, PROVIDED THAT BANK TELLERS RECEIVE TRAIN-
9 ING APPROVED BY THE OFFICE FOR THE AGING ON IDENTIFYING SCAMS AND OTHER
10 FORMS OF FINANCIAL EXPLOITATION.
11 3. IN ADDITION TO THOSE PERSONS REQUIRED TO REPORT SUSPECTED FINANCIAL
12 EXPLOITATION UNDER THIS SECTION, ANY OTHER PERSON MAY MAKE SUCH A REPORT
13 IF HE OR SHE HAS REASONABLE CAUSE TO BELIEVE THAT AN ELDERLY PERSON HAS
14 BEEN OR IS BEING SUBJECTED TO FINANCIAL EXPLOITATION.
15 4. REPORTS OF SUSPECTED FINANCIAL EXPLOITATION UNDER THIS SECTION
16 SHALL BE MADE IMMEDIATELY BY TELEPHONE OR AS SOON AS PRACTICABLY POSSI-
17 BLE, AND BY WRITTEN REPORT SENT WITHIN TWO WORKING DAYS TO THE ADULT
18 PROTECTIVE SERVICES UNIT OF THE LOCAL DEPARTMENT OF SOCIAL SERVICES.
19 5. AN ALLEGATION BY AN ELDERLY PERSON, OR ANY OTHER PERSON, THAT
20 FINANCIAL EXPLOITATION HAS OCCURRED IS SUFFICIENT TO TRIGGER THE REPORT-
21 ING REQUIREMENT IN SUBDIVISION TWO OF THIS SECTION.
22 6. ANY PERSON WHO IN GOOD FAITH MAKES A REPORT UNDER THIS SECTION
23 SHALL HAVE IMMUNITY FROM ANY LIABILITY, CIVIL OR CRIMINAL, FOR HAVING
24 MADE SUCH A REPORT. FOR THE PURPOSE OF ANY PROCEEDING, CIVIL OR CRIMI-
25 NAL, THE GOOD FAITH OF ANY PERSON REQUIRED TO REPORT INSTANCES OF FINAN-
26 CIAL EXPLOITATION UNDER SUBDIVISION TWO OF THIS SECTION SHALL BE
27 PRESUMED.
28 7. IF, AFTER A PROCEEDING WITH NOTICE AND A HEARING, THE SUPERINTEN-
29 DENT DETERMINES THAT ANY PERSON REQUIRED BY THIS SECTION TO REPORT AN
30 INSTANCE OF SUSPECTED FINANCIAL EXPLOITATION HAS WILLFULLY FAILED TO
31 REPORT SUCH INSTANCE, SUCH PERSON SHALL BE DEEMED TO HAVE VIOLATED THIS
32 SECTION AND SHALL BE SUBJECT TO A PENALTY NOT TO EXCEED ONE THOUSAND
33 DOLLARS PER VIOLATION.
34 S 2. Section 202 of the elder law is amended by adding a new subdivi-
35 sion 16 to read as follows:
36 16. TO CONDUCT AN OUTREACH, EDUCATION AND TRAINING PROGRAM FOR FINAN-
37 CIAL INSTITUTIONS AS DEFINED IN PARAGRAPH (A) OF SUBDIVISION ONE OF
38 SECTION NINE-V OF THE BANKING LAW.
39 S 3. The elder law is amended by adding a new section 219-a to read
40 as follows:
41 S 219-A. FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING
42 PROGRAM. 1. DEFINITIONS. FOR THE PURPOSES OF THIS SECTION, THE TERM
43 "DESIGNATED AGENCY" SHALL HAVE THE MEANING ASCRIBED TO IT UNDER SECTION
44 TWO HUNDRED FOURTEEN OF THIS TITLE.
45 2. THE DIRECTOR, WITHIN THE AMOUNTS APPROPRIATED THEREFOR, SHALL, IN
46 CONJUNCTION WITH THE OFFICE OF CHILDREN AND FAMILY SERVICES AND THE
47 BANKING DEPARTMENT, ESTABLISH A FINANCIAL OUTREACH, EDUCATION AND TRAIN-
48 ING PROGRAM, HEREINAFTER REFERRED TO IN THIS SECTION AS "THE PROGRAM,"
49 FOR THE PURPOSE OF PROVIDING AN EDUCATION, OUTREACH AND TRAINING PROGRAM
50 TO CERTIFIED PUBLIC ACCOUNTANTS LICENSED IN THIS STATE, ATTORNEYS
51 LICENSED IN THIS STATE, ANY PREPARER OF TAXES OPERATING IN THIS STATE,
52 AND TO FINANCIAL INSTITUTIONS AS DEFINED IN SECTION NINE-V OF THE BANK-
53 ING LAW LOCATED WITHIN THIS STATE. THE OUTREACH, EDUCATION AND TRAINING
54 PROGRAM SHALL BE A VOLUNTARY PROGRAM. THE DIRECTOR, IN CONJUNCTION WITH
55 THE OFFICE OF CHILDREN AND FAMILY SERVICES AND THE DEPARTMENT OF FINAN-
S. 2162 3
1 CIAL SERVICES, SHALL COORDINATE ACTIVITIES TO IDENTIFY AND PROVIDE
2 TRAINING TO THE INSTITUTIONS AND INDIVIDUALS DESCRIBED IN THIS SECTION.
3 3. (A) AS PART OF THE PROGRAM, THE DIRECTOR MAY AWARD GRANTS TO QUALI-
4 FIED DESIGNATED AGENCIES TO ESTABLISH LOCAL ELDERLY EXPLOITATION
5 OUTREACH, EDUCATION AND TRAINING PROGRAMS. QUALIFIED DESIGNATED AGENCIES
6 SHALL WORK COLLABORATIVELY WITH SUCH INSTITUTIONS AND INDIVIDUALS, AND
7 THEIR REPRESENTATIVE ASSOCIATIONS.
8 (B) IN MAKING SUCH GRANTS, THE DIRECTOR SHALL CONSIDER:
9 (1) THE MANNER IN WHICH THE DESIGNATED AGENCY PROPOSES TO PROVIDE SUCH
10 EDUCATION, OUTREACH AND TRAINING;
11 (2) THE CAPACITY OF THE DESIGNATED AGENCY TO COORDINATE ITS SERVICES
12 WITH BANKING, HUMAN SERVICE AND LAW ENFORCEMENT AND PUBLIC AGENCIES
13 WHICH PROVIDE SERVICES OR ASSISTANCE TO THE ELDERLY, INCLUDING THE LOCAL
14 DEPARTMENT OF SOCIAL SERVICES ADULT PROTECTIVE SERVICES UNIT; AND
15 (3) ANY OTHER CRITERIA DETERMINED BY THE DIRECTOR TO BE APPROPRIATE.
16 4. THE PROGRAM SHALL, AT A MINIMUM, CONSIST OF THE FOLLOWING ELEMENTS
17 WHICH SHALL BE PROVIDED BY THE OFFICE FOR THE AGING:
18 (A) EDUCATIONAL AND INFORMATIONAL MATERIALS IN PRINT, AUDIO, VISUAL,
19 ELECTRONIC OR OTHER MEDIA;
20 (B) PUBLIC SERVICE ANNOUNCEMENTS, ADVERTISEMENTS, MEDIA CAMPAIGNS,
21 WORKSHOPS AND MASS MAILINGS;
22 (C) CONFERENCES OR PRESENTATIONS DESIGNED TO PROVIDE INFORMATION TO
23 THOSE INDIVIDUALS IDENTIFIED IN SUBDIVISION TWO OF SECTION NINE-V OF THE
24 BANKING LAW; AND
25 (D) INSTRUCTIONS ON HOW TO REPORT KNOWN OR SUSPECTED INCIDENTS OF
26 FINANCIAL EXPLOITATION OF THE ELDERLY, INCLUDING THE APPROPRIATE TELE-
27 PHONE NUMBERS TO CALL AND THE TYPES OF INFORMATION THAT WOULD ASSIST THE
28 OFFICE WITH ITS INVESTIGATION OF THE REPORT.
29 5. THE DIRECTOR SHALL CONVENE AN ADVISORY COMMITTEE MADE UP OF AT
30 LEAST TEN BUT NO MORE THAN TWENTY MEMBERS TO ADVISE THE DIRECTOR AND
31 MAKE RECOMMENDATIONS ON THE ASPECTS OF DEVELOPING AND IMPLEMENTING THE
32 PROGRAM. MEMBERS OF THE ADVISORY COMMITTEE SHALL INCLUDE BUT NOT BE
33 LIMITED TO: AT LEAST TWO REPRESENTATIVES FROM STATEWIDE SENIOR ADVOCACY
34 ORGANIZATIONS, AT LEAST ONE REPRESENTATIVE REPRESENTING A NON-PROFIT
35 SENIOR ORGANIZATION WHICH OPERATES AN ELDER ABUSE PREVENTION PROGRAM, AT
36 LEAST ONE ATTORNEY WHOSE PRACTICE CONCENTRATES IN ELDER LAW OR AN INDI-
37 VIDUAL ACTING ON BEHALF OF THE ELDER LAW SECTION OF THE NEW YORK STATE
38 BAR ASSOCIATION, AT LEAST ONE BANKER OR A REPRESENTATIVE OF AN ASSOCI-
39 ATION REPRESENTING BANKERS, AT LEAST ONE CERTIFIED PUBLIC ACCOUNTANT OR
40 A REPRESENTATIVE OF AN ASSOCIATION REPRESENTING CERTIFIED PUBLIC
41 ACCOUNTANTS, AT LEAST TWO MEMBERS REPRESENTING PROTECTIVE SERVICES FOR
42 ADULTS, AND AT LEAST TWO LAW ENFORCEMENT REPRESENTATIVES.
43 S 4. The state finance law is amended by adding a new section 99-u to
44 read as follows:
45 S 99-U. FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING FUND.
46 1. THERE IS HEREBY ESTABLISHED IN THE JOINT CUSTODY OF THE COMPTROLLER
47 AND THE SUPERINTENDENT OF BANKS A SPECIAL REVENUE FUND TO BE KNOWN AS
48 THE "FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING FUND".
49 2. THE FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING FUND
50 SHALL CONSIST OF ALL MONEYS RECEIVED BY THE STATE UNDER SECTION NINE-V
51 OF THE BANKING LAW AND ALL OTHER FEES, FINES, GRANTS, BEQUESTS OR OTHER
52 MONIES CREDITED, APPROPRIATED OR TRANSFERRED THERETO FROM ANY OTHER FUND
53 OR SOURCE.
54 3. THE MONEYS OF THE FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND
55 TRAINING FUND SHALL BE DISBURSED BY THE COMPTROLLER TO THE STATE OFFICE
S. 2162 4
1 FOR THE AGING FOR THE PURPOSE OF CARRYING OUT THE PROVISIONS OF SECTIONS
2 TWO HUNDRED NINETEEN AND TWO HUNDRED NINETEEN-A OF THE ELDER LAW.
3 S 5. This act shall take effect immediately; provided, however, that
4 subdivisions 2, 3, 4, 5, 6 and 7 of section 9-v of the banking law, as
5 added by section one of this act, shall take effect on the two hundred
6 seventieth day after this act shall have become a law.
