Bill Text: NY S02564 | 2015-2016 | General Assembly | Amended


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 third party who reports suspected financial abuse shall have immunity from any civil or criminal liability as a result.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 0000-00-00 - [S02564 Detail]

Download: New_York-2015-S02564-Amended.html


                STATE OF NEW YORK
        ________________________________________________________________________
                                         2564--A
                               2015-2016 Regular Sessions
                    IN SENATE
                                    January 26, 2015
                                       ___________
        Introduced  by  Sen.  PARKER -- read twice and ordered printed, and when
          printed to be committed to the Committee on Banks  --  recommitted  to
          the  Committee  on  Banks  in accordance with Senate Rule 6, sec. 8 --
          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-x to
     2  read as follows:
     3    § 9-x. 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:
    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;
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06547-02-6
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