California Bankers Address Elder Abuse

The California Bankers Association is supporting a bill proposed in that state that would encourage banks to report elder financial abuse by removing some of the barriers financial institutions face in doing so.

The bill would make it lawful for a county adult protective services office to request and receive financial information when the office is investigating the financial abuse of an elderly or dependent adult. Currently, banks face consequences for providing that information because of California privacy laws.

CBA is also preparing an amendment it hopes to introduce that would include training of bank employees on how to spot and react to elder abuse.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 4, 5/05