AB-83 • 2026

The California Elder Financial Abuse Prevention Act.

Housing Privacy

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor: Pacheco
Last action: 2026-02-02
Official status: From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
Effective date: Not listed

Plain English Breakdown

The exact definition of 'associated third party' and the consequences of a bank's wrongful suspicion are not provided in the official source material.

California Elder Financial Abuse Prevention Act

This act allows banks to delay transactions and notify others if they suspect an older person is being financially abused.

What This Bill Does

Allows banks to stop or delay a transaction if they believe an older person might be the victim of financial abuse.
Permits banks to prevent money from leaving an older person's account if they suspect abuse.
Authorizes banks to inform other people, like family members or law enforcement, about suspected abuse without violating privacy rules.

Who It Names or Affects

Banks and financial institutions
Older adults who might be victims of financial abuse

Terms To Know

Eligible Adult: An older person who is protected under this act from financial abuse.
Depository Institution: A bank or other place where people keep their money and do transactions.

Limits and Unknowns

The bill does not specify what happens if a bank wrongly suspects someone of being abused.
It is unclear how this act will be enforced in practice.

Bill History

2026-02-02 California Legislative Information
From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.
2026-01-31 California Legislative Information
Died pursuant to Art. IV, Sec. 10(c) of the Constitution.
2025-05-05 California Legislative Information
Re-referred to Com. on B. & F.
2025-05-01 California Legislative Information
From committee chair, with author's amendments: Amend, and re-refer to Com. on B. & F. Read second time and amended.
2025-03-25 California Legislative Information
Re-referred to Com. on B.&F.
2025-03-25 California Legislative Information
From committee chair, with author's amendments: Amend, and re-refer to Com. on B.&F. Read second time and amended.
2025-03-24 California Legislative Information
From committee chair, with author's amendments: Amend, and re-refer to Com. on B.&F. Read second time and amended.
2025-03-24 California Legislative Information
Referred to Com. on B.&F.
2025-01-06 California Legislative Information
Read first time.
2024-12-21 California Legislative Information
From printer. May be heard in committee January 20.
2024-12-20 California Legislative Information
Introduced. To print.

Official Summary Text

AB 83, as amended, Pacheco.
The California Elder Financial Abuse Prevention Act.
Existing law establishes in the Business, Consumer Services, and Housing Agency a Department of Financial Protection and Innovation under the direction of the Commissioner of Financial Protection and Innovation. Under existing law, the department has charge of the execution of specified laws relating to various financial institutions and financial products and services.
This bill would enact the California Elder Financial Abuse Prevention Act, which would authorize a depository institution, as defined, to take specified actions when, based on their own observations or information received from a governmental or law enforcement agency, the institution believes that an eligible adult, as defined, is the victim or target of financial abuse, including delaying or refusing a transaction involving the eligible adult and preventing the transfer of
funds from the eligible adult’s account. The bill would authorize a depository institution to notify an associated third party, as defined, if the depository institution believes an eligible adult may be the victim of financial abuse, and would exempt that disclosure from state privacy laws or requirements.

Current Bill Text

Read the full stored bill text

Download Bill PDF