New York State Assembly

 
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A06395 Summary:

A06395 Actions:

A06395 Committee Votes:

Committee:AGING   Chair:Lupardo      
DATE:06/14/2017AYE/NAY:26/0  Action: Favorable refer to committee Codes        
Lupardo
Aye
Byrne
Aye
Weinstein
Aye
Friend
Aye
Abbate
Excused
Johns
Aye
Magee
Aye
Murray
Aye
Arroyo
Excused
Brabenec
Aye
Rivera
Aye
Errigo
Aye
Ramos
Aye
Norris
Aye
DenDekker
Aye
Walsh
Aye
Braunstein
Aye
Simanowitz
Aye
Brindisi
Aye
Sepulveda
Aye
McDonald
Aye
Joyner
Aye
Barron
Aye
Harris
Aye
Hyndman
Aye
Barnwell
Aye
Jones
Aye
Wright
Excused
Wallace
Aye
Dickens
Excused

Committee:CODES   Chair:Lentol      
DATE:06/19/2017AYE/NAY:20/0  Action: Favorable refer to committee Ways and Means        
Lentol
Aye
Graf
Aye
Schimminger
Aye
Giglio
Aye
Weinstein
Aye
McKevitt
Aye
Pretlow
Aye
Montesano
Aye
Cook
Aye
Ra
Aye
Cymbrowitz
Aye
Morinello
Aye
Titus
Aye
O'Donnell
Excused
Lavine
Aye
Perry
Aye
Zebrowski
Aye
Abinanti
Aye
Weprin
Aye
Mosley
Aye
Hevesi
Excused
Fahy
Aye

Committee:WAYS AND MEANS   Chair:Farrell      
DATE:06/19/2017AYE/NAY:34/0  Action: Favorable refer to committee Rules        
Farrell
Aye
Oaks
Aye
Lentol
Aye
Crouch
Aye
Schimminger
Aye
Barclay
Aye
Gantt
Aye
Fitzpatrick
Aye
Weinstein
Aye
Hawley
Aye
Glick
Aye
Malliotakis
Aye
Nolan
Aye
Walter
Aye
Pretlow
Aye
Montesano
Aye
Perry
Aye
Curran
Aye
Colton
Aye
Ra
Aye
Cook
Aye
Cahill
Aye
Aubry
Aye
Hooper
Aye
Thiele
Aye
Cusick
Aye
Ortiz
Aye
Benedetto
Aye
Moya
Aye
Weprin
Aye
Rodriguez
Excused
Ramos
Aye
Braunstein
Aye
McDonald
Aye
Rozic
Aye

Committee:RULES   Chair:Heastie      
DATE:06/20/2017AYE/NAY:27/0  Action: Favorable         
Heastie
Aye
Kolb
Aye
Gottfried
Aye
Oaks
Aye
Lentol
Aye
Butler
Excused
Farrell
Aye
Crouch
Aye
Gantt
Aye
Finch
Excused
Nolan
Excused
Barclay
Aye
Weinstein
Aye
Raia
Aye
Hooper
Aye
Hawley
Aye
Ortiz
Aye
Pretlow
Aye
Cook
Aye
Glick
Aye
Morelle
Aye
Aubry
Aye
Englebright
Aye
Dinowitz
Aye
Colton
Aye
Magnarelli
Aye
Perry
Aye
Galef
Aye
Paulin
Aye
Titus
Excused
Peoples-Stokes
Aye

A06395 Floor Votes:

A06395 Memo:

NEW YORK STATE ASSEMBLY
MEMORANDUM IN SUPPORT OF LEGISLATION
 submitted in accordance with Assembly Rule III, Sec 1(f)



 
BILL NUMBER: A6395
 
SPONSOR: Lupardo

 
TITLE OF BILL:  An act to amend the banking law, in relation to
reporting of suspected financial exploitation
 
 
PURPOSE:
 
To encourage voluntary reporting of suspected financial exploitation.
 
 
SUMMARY OF PROVISIONS:
 
This bill would direct the Superintendent of the Department of Financial
Services to develop guidelines for reporting suspected financial exploi-
tation in consultation with the State Office for the Aging, NYS Attorney
General, representatives of the financial services industry, law
enforcement, senior groups, disability groups, and district attorneys.
 
This bill would also direct the Superintendent, along with the other
groups who assisted with developing the guidelines, to also develop
training materials to be made available to banks to train their staff
and brochures for bank patrons regarding the signs of elder abuse.
 
Additionally, this bill would provide protection from state liability
for banking institutions that make a report of suspected financial
exploitation in accordance with the guidelines provided.
 
 
JUSTIFICATION:
 
Financial exploitation is a large and quickly growing segment of elder
abuse. Financial institutions are often in a prime position to notice
changes in behavior or suspicious patterns of withdrawals and invest-
ments. Fear of being sued, especially if the abuser is a family member,
has been raised as a barrier to voluntary reporting by employees of
financial institutions. This bill would protect those who report
suspected financial exploitation, but only if the report is made by
following guidelines set by the Department of Financial Services.
 
 
LEGISLATIVE HISTORY:
 
2013-14 A.1783.B - Passed in Assembly
2015-16- A5349B - Reported
 
 
FISCAL IMPLICATIONS:
 
To be determined.
 
 
EFFECTIVE DATE:
The act shall take effect on the 90th day.

A06395 Text:

 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                          6395
 
                               2017-2018 Regular Sessions
 
                   IN ASSEMBLY
 
                                      March 6, 2017
                                       ___________
 
        Introduced  by M. of A. LUPARDO -- read once and referred to the Commit-
          tee 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-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) "banking institution" shall have the same meaning as in  paragraph
    11  (b) of subdivision three of section nine-f of this chapter.
    12    (c)  "superintendent"  shall mean the superintendent of the department
    13  of financial services.
    14    2. The superintendent, in consultation with the director of the office
    15  for the aging, the attorney general, representatives  of  the  financial
    16  services  industry,  law  enforcement, senior groups, disability groups,
    17  and district attorneys, shall develop guidelines relating  to  reporting
    18  suspected financial exploitation. Such guidelines shall include, but not
    19  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;
    24    (d) information that should be  included  in  a  report  of  suspected
    25  financial abuse; and
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD07199-01-7
        A. 6395                             2
 
     1    (e)  the  applicable laws, rules and regulations that must be followed
     2  while reporting suspected financial abuse.
     3    3. The superintendent, in consultation with the director of the office
     4  for  the  aging,  the attorney general, representatives of the financial
     5  services industry, law enforcement, senior groups, disability groups and
     6  district attorneys,  shall  develop  (i)  training  for  bank  employees
     7  concerning  the guidelines developed pursuant to subdivision two of this
     8  section that shall include disability  literacy  training;  and  (ii)  a
     9  brochure  educating  bank customers regarding the reporting of financial
    10  exploitation and how to report that they are being exploited.
    11    4. A banking institution located or doing business in this state or an
    12  employee thereof who, acting reasonably and in good faith in  accordance
    13  with  these  guidelines,  reports  suspected  financial abuse shall have
    14  immunity from any civil liability that might otherwise result by  reason
    15  of such actions.
    16    5.  The  superintendent  is  directed to promulgate any rules or regu-
    17  lations necessary to carry out the provisions of this section.
    18    § 2. This act shall take effect on the ninetieth day  after  it  shall
    19  have become a law.

A06395 LFIN:

 
NO LFIN