Senate Bill S2564A

2015-2016 Legislative Session

Relates to the report of suspected financial exploitation

download bill text pdf

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Archive: Last Bill Status - In Senate Committee Banks Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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Bill Amendments

2015-S2564 - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5478
2017-2018: S2804
2019-2020: S5037
2021-2022: S5658
2023-2024: S7339

2015-S2564 - Summary

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.

2015-S2564 - Sponsor Memo

2015-S2564 - Bill Text download pdf

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

                                  2564

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            January 26, 2015
                               ___________

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

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:

  Section 1. The banking law is amended by adding a new section  9-w  to
read as follows:
  S  9-W. REPORTING OF SUSPECTED FINANCIAL EXPLOITATION. 1. FOR PURPOSES
OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A) "FINANCIAL EXPLOITATION" SHALL MEAN ACTIVITY  PROHIBITED  PURSUANT
TO  SECTIONS  190.25,  190.26,  190.60,  190.65, 190.78, 190.79, 190.80,
190.80-A, 190.81, 190.82, AND 190.83 OF THE PENAL LAW OR ACTIVITY  MEANT
TO  DEPRIVE  AN INDIVIDUAL OF ASSETS OR PROPERTY BY DECEPTIVE, MANIPULA-
TIVE, OR OTHER ILLEGAL MEANS.
  (B) "FINANCIAL INSTITUTION" SHALL MEAN ANY BANKING INSTITUTION, CREDIT
UNION, INVESTMENT BROKERAGE, AND ANY OTHER ENTITY LICENSED BY THE SUPER-
INTENDENT.
  (C) "SUPERINTENDENT" SHALL MEAN THE SUPERINTENDENT OF  THE  DEPARTMENT
OF FINANCIAL SERVICES.
  2. THE SUPERINTENDENT, IN CONSULTATION WITH THE DIRECTOR OF THE OFFICE
FOR  THE  AGING,  THE ATTORNEY GENERAL, REPRESENTATIVES OF THE FINANCIAL
SERVICES INDUSTRY, LAW ENFORCEMENT, SENIOR GROUPS, AND  DISTRICT  ATTOR-
NEYS, SHALL DEVELOP GUIDELINES RELATING TO REPORTING SUSPECTED FINANCIAL
EXPLOITATION. SUCH GUIDELINES SHALL INCLUDE, BUT NOT BE LIMITED TO:
  (A)  THE  TYPES OF WARNING SIGNS AND EVIDENCE THAT WOULD BE ACCEPTABLE
INDICATORS OF FINANCIAL EXPLOITATION;
  (B) WHEN SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
  (C) TO WHOM SUSPECTED FINANCIAL EXPLOITATION SHOULD BE REPORTED;
  (D) INFORMATION THAT SHOULD BE  INCLUDED  IN  A  REPORT  OF  SUSPECTED
FINANCIAL ABUSE; AND

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD06547-01-5
              

2015-S2564A (ACTIVE) - Details

Current Committee:
Senate Banks
Law Section:
Banking Law
Laws Affected:
Add §9-x, Bank L
Versions Introduced in Other Legislative Sessions:
2013-2014: S5478
2017-2018: S2804
2019-2020: S5037
2021-2022: S5658
2023-2024: S7339

2015-S2564A (ACTIVE) - Summary

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.

2015-S2564A (ACTIVE) - Sponsor Memo

2015-S2564A (ACTIVE) - Bill Text download pdf

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

                                 2564--A

                       2015-2016 Regular Sessions

                            I N  S E N A T E

                            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:

  Section  1.  The banking law is amended by adding a new section 9-x to
read as follows:
  S 9-X. REPORTING OF SUSPECTED FINANCIAL EXPLOITATION. 1. FOR  PURPOSES
OF THIS SECTION, THE FOLLOWING TERMS SHALL HAVE THE FOLLOWING MEANINGS:
  (A)  "FINANCIAL  EXPLOITATION" SHALL MEAN ACTIVITY PROHIBITED PURSUANT
TO SECTIONS 190.25, 190.26,  190.60,  190.65,  190.78,  190.79,  190.80,
190.80-A,  190.81, 190.82, AND 190.83 OF THE PENAL LAW OR ACTIVITY MEANT
TO DEPRIVE AN INDIVIDUAL OF ASSETS OR PROPERTY BY  DECEPTIVE,  MANIPULA-
TIVE, OR OTHER ILLEGAL MEANS.
  (B) "FINANCIAL INSTITUTION" SHALL MEAN ANY BANKING INSTITUTION, CREDIT
UNION, INVESTMENT BROKERAGE, AND ANY OTHER ENTITY LICENSED BY THE SUPER-
INTENDENT.
  (C)  "SUPERINTENDENT"  SHALL MEAN THE SUPERINTENDENT OF THE DEPARTMENT
OF FINANCIAL SERVICES.
  2. THE SUPERINTENDENT, IN CONSULTATION WITH THE DIRECTOR OF THE OFFICE
FOR THE AGING, THE ATTORNEY GENERAL, REPRESENTATIVES  OF  THE  FINANCIAL
SERVICES  INDUSTRY,  LAW ENFORCEMENT, SENIOR GROUPS, AND DISTRICT ATTOR-
NEYS, SHALL DEVELOP GUIDELINES RELATING TO REPORTING SUSPECTED FINANCIAL
EXPLOITATION. SUCH GUIDELINES SHALL INCLUDE, BUT NOT BE LIMITED TO:
  (A) THE TYPES OF WARNING SIGNS AND EVIDENCE THAT WOULD  BE  ACCEPTABLE
INDICATORS OF FINANCIAL EXPLOITATION;
  (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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