Provides for a financial exploitation prevention outreach, education and training program and fund; authorizes the director of the office of the aging to award grants to qualified agencies to establish local elderly exploitation, outreach, education and training programs; outlines elements of such program.

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S143-2013 Actions

• Apr 16, 2013: REPORTED AND COMMITTED TO FINANCE
• Jan 9, 2013: REFERRED TO AGING

S143-2013 Meetings

Aging: Apr 16, 2013

S143-2013 Votes

S143-2013 Memo

BILL NUMBER:S143

TITLE OF BILL:
An act
to amend the elder law, in relation to financial exploitation of the
elderly and to amend the state finance law, in relation to creating the
financial exploitation outreach, education and training fund

PURPOSE OR GENERAL IDEA OF THE BILL:
To protect the elderly from financial exploitation through educational
programs.

SUMMARY OF PROVISIONS:
Section 1. Amends the Elder Law, Section 202 by adding a new subdivision
16. Provides that the State Office for the Acing shall conduct outreach,
education and training programs for financial institutions.

Section 2. Amends the Elder Law by adding a new section 219-a. Creates
the Financial Exploitation, Outreach, Education and Training Program to
be administered by the New York State Office for the Aging. Describes
the activities and of such program. Authorizes the Director to convene
and advisory committee to be comprised of at least ten but no more than
twenty members. Specifies the backgrounds of such advisory committee
members.

Section 3. Amends the State Finance Law by adding a new section 99-u.
Creates a fund in the joint custody of the Comptroller and the
Superintendent of Banks to provide monies to the Financial Exploitation,
Outreach, Education and Training Program.

Section 4. Effective date.

EXISTING LAW:
None

JUSTIFICATION:
Elderly Americans are often the victims of financial abuse. This abuse
can come in many different forms, but some common forms of elder
financial abuse are forging an elderly person's signature, coercing an
elderly person into signing a deed, will or power-of-attorney form, or
using an elderly person's property or possessions without their
permission. Perpetrators of elderly financial abuse are often unethical
businessmen, unscrupulous individuals posing as financial advisors, or
even members of an elderly person's family.

The elderly are often an attractive target for a number of reasons.
Elderly Americans control over 70% of the nation's wealth, and many
seniors do not realize the value of their assets. On top of that, many
elderly Americans don't know what action they can take when they are the
victims of a financial abuse.

In New York State, the financial abuse of the elderly is a serious
problem. According to data released in November, 2010 during a statewide
summit on elder abuse in New York convened by Lifespan of Greater
Rochester, a self- reported prevalence study indicated that the highest
rate of mistreatment (41 per 1,000 elders surveyed) occurred for major


financial exploitation (theft of money or property, using items without
permission, impersonation to get access, forcing or misleading to get
items such as money, bank cards, accounts, power of attorney.)

This legislation will ensure that elderly New Yorkers receive the
education and training they need to ensure they are not victims of elder
financial abuse.

PRIOR LEGISLATIVE HISTORY:
2012: S.956A - Amended and Recommitted to Banks/A.4045A - Amended
      and Recommitted to Aging
2011 S.956   - Discharged from Aging and Committed to Banks/A.4045 -
     Referred to Aging.
2010 S.4990A - Reported and Committed to Finance/A.4743-A - Amended on
     Third Reading Calendar
2009 S.4990 - Died on Third Reading/A.4743 - Passed Assembly

FISCAL IMPLICATIONS:
To be determined.

EFFECTIVE DATE:
Ninety (90) days after it shall have become a law.

S143-2013 Text

                      S T A T E   O F   N E W   Y O R K
  ________________________________________________________________________

                                     143

                         2013-2014 Regular Sessions

                              I N  SENATE

                                 (PREFILED)

                               January 9, 2013
                                 ___________

  Introduced  by  Sen.  DIAZ  --  read twice and ordered printed, and when
    printed to be committed to the Committee on Aging

  AN ACT to amend the elder law, in relation to financial exploitation  of
    the  elderly and to amend the state finance law, in relation to creat-
    ing 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:


    Section  1.  Section  202  of the elder law is amended by adding a new
  subdivision 16 to read as follows:

    16. TO CONDUCT AN OUTREACH, EDUCATION AND TRAINING PROGRAM FOR  FINAN-
  CIAL INSTITUTIONS AS DEFINED IN SUBDIVISION SIX OF SECTION 470.00 OF THE
  PENAL LAW.
    S 2. The elder law is amended by adding a new section 219-a to read as
  follows:

    S  219-A.  FINANCIAL  EXPLOITATION,  OUTREACH,  EDUCATION AND TRAINING
  PROGRAM. 1. DEFINITIONS. FOR THE PURPOSES  OF  THIS  SECTION,  THE  TERM
  "DESIGNATED  AGENCY" SHALL HAVE THE MEANING ASCRIBED TO IT UNDER SECTION
  TWO HUNDRED FOURTEEN OF THIS TITLE  AND  "FINANCIAL  INSTITUTION"  SHALL
  HAVE  THE MEANING ASCRIBED TO IT IN SUBDIVISION SIX OF SECTION 470.00 OF
  THE PENAL LAW.
    2. THE DIRECTOR, WITHIN THE AMOUNTS APPROPRIATED THEREFOR,  SHALL,  IN
  CONJUNCTION  WITH  THE  OFFICE  OF  CHILDREN AND FAMILY SERVICES AND THE
  BANKING DEPARTMENT, ESTABLISH A FINANCIAL EXPLOITATION OUTREACH,  EDUCA-
  TION  AND TRAINING PROGRAM, HEREINAFTER REFERRED TO AS "THE PROGRAM" FOR
  THE PURPOSE OF PROVIDING AN EDUCATION, OUTREACH AND TRAINING PROGRAM  TO
  FINANCIAL INSTITUTIONS, TO CERTIFIED PUBLIC ACCOUNTANTS LICENSED IN THIS
  STATE, TO ANY PREPARER OF TAXES OPERATING IN THIS STATE AND TO ATTORNEYS
  LICENSED  IN  THIS  STATE. THE PROGRAM SHALL BE A VOLUNTARY PROGRAM. THE
  DIRECTOR, IN CONJUNCTION WITH THE OFFICE OF CHILDREN AND FAMILY SERVICES
  AND THE BANKING DEPARTMENT, SHALL COORDINATE ACTIVITIES TO IDENTIFY  AND

   EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                        [ ] is old law to be omitted.
                                                             LBD01012-01-3

 S. 143                              2

  PROVIDE  TRAINING  TO THE INSTITUTIONS AND INDIVIDUALS DESCRIBED IN THIS
  SECTION.
    3. (A) AS PART OF THE PROGRAM, THE DIRECTOR MAY AWARD GRANTS TO QUALI-
  FIED   DESIGNATED  AGENCIES  TO  ESTABLISH  LOCAL  ELDERLY  EXPLOITATION
  OUTREACH, EDUCATION AND TRAINING PROGRAMS. QUALIFIED DESIGNATED AGENCIES
  SHALL WORK COLLABORATIVELY WITH SUCH INSTITUTIONS AND  INDIVIDUALS,  AND
  THEIR REPRESENTATIVE ASSOCIATIONS.
    (B) IN MAKING SUCH GRANTS, THE DIRECTOR SHALL CONSIDER:

    (1) THE MANNER IN WHICH THE DESIGNATED AGENCY PROPOSES TO PROVIDE SUCH
  EDUCATION, OUTREACH AND TRAINING;
    (2)  THE  CAPACITY OF THE DESIGNATED AGENCY TO COORDINATE ITS SERVICES
  WITH BANKING, HUMAN SERVICE AND  LAW  ENFORCEMENT  AND  PUBLIC  AGENCIES
  WHICH PROVIDE SERVICES OR ASSISTANCE TO THE ELDERLY, INCLUDING THE LOCAL
  DEPARTMENT OF SOCIAL SERVICES ADULT PROTECTIVE SERVICES UNIT; AND
    (3) ANY OTHER CRITERIA DETERMINED BY THE DIRECTOR TO BE APPROPRIATE.
    4.  THE PROGRAM SHALL, AT A MINIMUM, CONSIST OF THE FOLLOWING ELEMENTS
  WHICH SHALL BE PROVIDED BY THE OFFICE:

    (A) EDUCATIONAL AND INFORMATIONAL MATERIALS IN PRINT,  AUDIO,  VISUAL,
  ELECTRONIC OR OTHER MEDIA;
    (B)  PUBLIC  SERVICE  ANNOUNCEMENTS,  ADVERTISEMENTS, MEDIA CAMPAIGNS,
  WORKSHOPS, MASS MAILINGS, CONFERENCES OR PRESENTATIONS; AND
    (C) INSTRUCTIONS ON HOW TO REPORT  KNOWN  OR  SUSPECTED  INCIDENTS  OF
  FINANCIAL  EXPLOITATION  OF THE ELDERLY, INCLUDING THE APPROPRIATE TELE-
  PHONE NUMBERS TO CALL AND THE TYPES OF INFORMATION THAT WOULD ASSIST THE
  OFFICE WITH ITS INVESTIGATION OF SUCH REPORTS.
    5. THE DIRECTOR SHALL CONVENE AN ADVISORY  COMMITTEE  MADE  UP  OF  AT
  LEAST  TEN,  BUT  NO MORE THAN TWENTY MEMBERS TO ADVISE THE DIRECTOR AND
  MAKE RECOMMENDATIONS ON THE ASPECTS OF DEVELOPING AND  IMPLEMENTING  THE
  PROGRAM.  MEMBERS  OF  THE  ADVISORY COMMITTEE SHALL INCLUDE, BUT NOT BE
  LIMITED TO: AT LEAST THREE REPRESENTATIVES FROM STATEWIDE SENIOR ADVOCA-
  CY ORGANIZATIONS, AT LEAST ONE ATTORNEY WHOSE PRACTICE  CONCENTRATES  IN
  ELDER  LAW OR AN INDIVIDUAL ACTING ON BEHALF OF THE ELDER LAW SECTION OF
  THE NEW YORK STATE BAR ASSOCIATION, AT LEAST ONE BANKER OR  A  REPRESEN-
  TATIVE  OF  AN  ASSOCIATION REPRESENTING BANKERS, AT LEAST ONE CERTIFIED
  PUBLIC ACCOUNTANT OR A REPRESENTATIVE  OF  AN  ASSOCIATION  REPRESENTING
  CERTIFIED  PUBLIC ACCOUNTANTS, AT LEAST TWO MEMBERS REPRESENTING PROTEC-
  TIVE SERVICE AGENCIES FOR ADULTS,  AND  AT  LEAST  TWO  LAW  ENFORCEMENT
  REPRESENTATIVES.
    S  3. The state finance law is amended by adding a new section 99-u to
  read as follows:

    S 99-U. FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING FUND.
  1. THERE IS HEREBY ESTABLISHED IN THE JOINT CUSTODY OF  THE  COMPTROLLER
  AND  THE  SUPERINTENDENT  OF BANKS A SPECIAL REVENUE FUND TO BE KNOWN AS
  THE FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND TRAINING FUND.
    2. THE FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND  TRAINING  FUND
  SHALL  CONSIST  OF ALL MONEYS, APPROPRIATED THERETO, AND ALL OTHER FEES,
  FINES, GRANTS, BEQUESTS OR OTHER MONIES CREDITED OR TRANSFERRED  THERETO
  FROM ANY OTHER FUND OR SOURCE.
    3.  THE  MONEYS OF THE FINANCIAL EXPLOITATION, OUTREACH, EDUCATION AND
  TRAINING FUND SHALL BE DISBURSED BY THE COMPTROLLER TO THE STATE  OFFICE
  FOR THE AGING FOR THE PURPOSE OF CARRYING OUT THE PROVISIONS OF SECTIONS
  TWO HUNDRED NINETEEN AND TWO HUNDRED NINETEEN-A OF THE ELDER LAW.
    S  4.  This  act shall take effect on the ninetieth day after it shall
  have become a law.