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.