Mandated reporters of suspected financial abuse of an elder or dependent adult.

Crime Labor

Passed Legislature

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

Sponsor: Stefani
Last action: 2026-01-22
Official status: In Senate. Read first time. To Com. on RLS. for assignment.
Effective date: Not listed

Plain English Breakdown

The official source does not mention encouraging clients to submit complaints within a specific timeframe.

Mandated Reporters for Elder and Dependent Adult Financial Abuse

This law requires financial institutions to report suspected elder or dependent adult financial abuse to the FBI Internet Crime Complaint Center within two working days, provides annual training on reporting procedures, and mandates sharing information about reporting mechanisms with clients if potential abuse is discovered.

What This Bill Does

Requires mandated reporters of suspected financial abuse to also report to the Federal Bureau of Investigation Internet Crime Complaint Center within two working days.
Requires financial institutions to provide annual training for their employees on how to escalate internally and report suspected financial abuse to both local and federal authorities.
Mandates that if potential financial abuse is discovered within 48 hours of a transaction, financial institutions must share information about reporting mechanisms with clients immediately.

Who It Names or Affects

Financial institution employees and officers who are mandated reporters of suspected elder or dependent adult financial abuse.
Elders and dependent adults who may be victims of financial abuse.

Terms To Know

Mandated Reporter: A person required by law to report suspected cases of elder or dependent adult financial abuse.
Financial Abuse: The misuse, misappropriation, or exploitation of an elder's or a dependent adult's funds, property, or resources for the benefit of someone other than the victim.

Limits and Unknowns

Does not specify civil penalties for failing to share information about reporting mechanisms.
It is unclear if this bill will be signed into law by the executive branch after passing both chambers of the legislature.

Bill History

2026-01-22 California Legislative Information
In Senate. Read first time. To Com. on RLS. for assignment.
2026-01-22 California Legislative Information
Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 3807.)
2026-01-20 California Legislative Information
Measure version as amended on January 16 corrected.
2026-01-20 California Legislative Information
Read second time. Ordered to third reading.
2026-01-16 California Legislative Information
Read second time and amended. Ordered returned to second reading.
2026-01-15 California Legislative Information
From committee: Amend, and do pass as amended. (Ayes 12. Noes 0.) (January 15).
2026-01-13 California Legislative Information
From committee: Do pass and re-refer to Com. on JUD. (Ayes 8. Noes 0.) (January 12). Re-referred to Com. on JUD.
2026-01-13 California Legislative Information
Coauthors revised.
2026-01-08 California Legislative Information
(Pending re-refer to Com. on JUD.)
2026-01-08 California Legislative Information
Assembly Rule 56 suspended. (Page 3717.)
2025-03-28 California Legislative Information
Referred to Coms. on B.&F. and JUD.
2025-02-20 California Legislative Information
From printer. May be heard in committee March 22.
2025-02-19 California Legislative Information
Read first time. To print.

Official Summary Text

AB 871, as amended, Stefani.
Mandated reporters of suspected financial abuse of an elder or dependent adult.
Existing law, the Elder Abuse and Dependent Adult Civil Protection Act, establishes procedures for the reporting, investigation, and prosecution of elder and dependent adult abuse. Existing law requires a mandated reporter of suspected financial abuse of an elder or dependent adult, as defined, to report financial abuse in a specified
manner.
manner, including by telephone or through a confidential internet reporting tool, as specified, immediately, or as soon as practicably possible. If reported by telephone, existing law requires a written report to be sent, or an internet report to be made through the internet reporting tool, to the local adult protective services agency or the local law enforcement agency within 2 working
days.
Existing law deems specified persons to be mandated reporters of suspected financial abuse of an elder or dependent adult, including, among others, all officers and employees of a financial institution. A mandated reporter who fails to report financial abuse of an elder or dependent adult is liable for civil penalties, as specified.
This
If a report of financial abuse is made by a mandated reporter, as described above, this bill would also require a report to be made to the Federal Bureau of Investigation Internet Crime Complaint Center within 2 working days. The
bill would require a financial institution to
provide annual training to its mandated reporters on how to
escalate internally and
report suspected financial abuse of an elder or a dependent adult to both local and federal authorities, as specified.
The
If suspected financial abuse of an elder or dependent adult is discovered within 48 hours of a transaction, the
bill would require a financial institution to share information on reporting
mechanisms with clients immediately upon discovering potential financial abuse and would require the financial institution to encourage clients to submit complaints
mechanisms, as specified, with the impacted elder or dependent adult
within 24 to 48 hours.
Under the bill, a violation of the requirement to share that information upon discovering potential financial abuse
The bill would specify that violations of these provisions
would not incur the above-described
civil liability.
liability for civil penalties.

Current Bill Text

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