Pennsylvania SB738: An Act amending the act of November 6, 1987 (P.L.381, No.79), known as the Older Adults Protective Services Act, providing for prevention of financial exploitation.

What the bill says

An act relating to the protection of the abused, neglected, exploited or abandoned elderly; establishing a uniform Statewide reporting and investigative system for suspected abuse, neglect, exploitation or abandonment of the elderly; providing protective services; providing for funding; and making repeals," providing for financial institutions; imposing duties on the Department of Aging and the Department of Banking and Securities; and imposing penalties.

From the introduced text, May 12, 2025:

An act relating to the protection of the abused, neglected, exploited or abandoned elderly; establishing a uniform Statewide reporting and investigative system for suspected abuse, neglect, exploitation or abandonment of the elderly; providing protective services; providing for funding; and making repeals," providing for financial institutions; imposing duties on the Department of Aging and the Department of Banking and Securities; and imposing penalties. The General Assembly of the Commonwealth of Pennsylvania hereby enacts as follows: Section 1. The act of November 6, 1987 (P.L.381, No.79), known as the Older Adults Protective Services Act, is amended by adding a chapter to read: CHAPTER 6 FINANCIAL INSTITUTIONS Section 601. Definitions. The following words and phrases when used in this chapter shall have the meanings given to them in this section unless the context clearly indicates otherwise: "Account of the older adult." An account held by a financial institution in which the older adult is a beneficiary or has a beneficial interest. "Designated representative." An individual who is: (1) designated by a financial institution as the individual responsible for providing information to an area agency on aging, the department or a law enforcement agency regarding the suspected financial exploitation of older adults; and (2) provided immunity from suit under 12 U.S.C. § 3423 (relating to immunity from suit for disclosure of financial exploitation of …

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