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