An Act amending the act of November 6, 1987 (P.L.381, No.79), known as the Older Adults Protective Services Act, providing for prevention of financial exploitation.

PRIOR PRINTER'S NO. 763 PRINTER'S NO. 1867
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 738
Session of
2025
INTRODUCED BY GEBHARD, STREET, FONTANA, BROWN, BOSCOLA,
BARTOLOTTA, TARTAGLIONE, ROBINSON, BAKER, HAYWOOD, LAUGHLIN,
STEFANO, KEARNEY, COSTA, PENNYCUICK, VOGEL, COLLETT, CULVER,
KANE, ARGALL, MALONE, MILLER AND FARRY, MAY 12, 2025
SENATOR GEBHARD, BANKING AND INSURANCE, AS AMENDED,
JUNE 30, 2026
AN ACT
Amending the act of November 6, 1987 (P.L.381, No.79), entitled
"An act relating to the protection of the abused, neglected,
exploited or abandoned elderly; establishing a uniform
Statewide reporting and investigative system for suspected
abuse, neglect, exploitation or abandonment of the elderly;
providing protective services; providing for funding; and
making repeals," providing for financial institutions;
imposing duties on the Department of Aging and the Department
of Banking and Securities; and imposing penalties.
Amending the act of November 6, 1987 (P.L.381, No.79), entitled
"An act relating to the protection of the abused, neglected,
exploited or abandoned elderly; establishing a uniform
Statewide reporting and investigative system for suspected
abuse, neglect, exploitation or abandonment of the elderly;
providing protective services; providing for funding; and
making repeals," providing for prevention of financial
exploitation.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of November 6, 1987 (P.L.381, No.79),
known as the Older Adults Protective Services Act, is amended by
adding a chapter to read:
CHAPTER 6
FINANCIAL INSTITUTIONS
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Section 601. Definitions.
The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Account of the older adult." An account held by a financial
institution in which the older adult is a beneficiary or has a
beneficial interest.
"Designated representative." An individual who is:
(1) designated by a financial institution as the
individual responsible for providing information to an area
agency on aging, the department or a law enforcement agency
regarding the suspected financial exploitation of older
adults; and
(2) provided immunity from suit under 12 U.S.C. § 3423
(relating to immunity from suit for disclosure of financial
exploitation of senior citizens) for disclosing the suspected
financial exploitation of older adults.
"Financial exploitation." As defined in 18 Pa.C.S. § 3922.1
(relating to financial exploitation of an older adult or care-
dependent person).
"Financial institution." Any of the following conducting
business in this Commonwealth:
(1) A depository institution as defined in 12 U.S.C. §
1813(c) (relating to definitions).
(2) A Federal credit union or State credit union as
defined in 12 U.S.C. § 1752 (relating to definitions),
including an institution-affiliated party of a credit union
as defined in 12 U.S.C. § 1786(r) (relating to termination of
insured credit union status; cease and desist orders; removal
or suspension from office; procedure).
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(3) A financial institution under 31 CFR Pt. 1020
(relating to rules for banks) that is required to file a
suspicious activity report.
(4) A person subject to supervision by the Department of
Banking and Securities or comparable Federal or State bank
supervisory or regulatory authority.
"Financial institution employee." An employee of a financial
institution who has:
(1) direct contact with an older adult; or
(2) access to or direct knowledge of an account of the
older adult, or other financial records of the older adult,
with the financial institution.
"Good faith." As defined under 13 Pa.C.S. § 5102 (relating
to definitions).
"Law enforcement agency." Any of the following:
(1) The Office of Attorney General.
(2) A county district attorney's office.
(3) An agency that employs a law enforcement officer.
"Law enforcement officer." Any of the following:
(1) A member of the Pennsylvania State Police.
(2) An individual employed as a police officer who holds
a current certificate under 53 Pa.C.S. Ch. 21 Subch. D
(relating to municipal police education and training).
(3) A sheriff or deputy sheriff.
"Person who is authorized to have access to the account of
the older adult." The term includes:
(1) An authorized contact provided by an older adult to
a financial institution, authorized signatory or beneficiary
on the account of the older adult.
(2) A fiduciary authorized to manage some or all of the
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financial affairs of the older adult.
(3) A co-owner of an account or other person authorized
to transact business of an account of the older adult.
(4) An attorney or financial professional known to
represent, or have represented, or to assist in the
management of the financial affairs of the older adult.
"Transaction." The term includes:
(1) A transfer or disbursement of, or a request to
transfer or disburse, money, assets or any other tangible
item of value in an account.
(2) A request to initiate a wire transfer, initiate an
automated clearinghouse transfer or issue a money order,
cashier's check or official check.
(3) A request to negotiate a check or other negotiable
instrument.
(4) A request to change the ownership of, or access to,
an account.
(5) A request to sell or transfer a security or other
asset or a request to affix a medallion stamp or provide any
form of guarantee or endorsement in connection with an
attempt to sell or transfer a security or other asset.
(6) A request for a loan, extension of credit or draw on
a line of credit.
(7) A request to encumber movable or immovable property.
(8) A request to designate or change the designation of
beneficiaries to receive any property, benefit or contract
right.
(9) A request for access to a safe deposit box.
(10) Except as authorized by this chapter, a request for
access regarding nonpublic information regarding the older
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adult.
Section 602. Culpability.
A reference to "intentionally," "knowingly" or "willfully" in
this chapter shall be interpreted in a manner consistent with 18
Pa.C.S. § 302 (relating to general requirements of culpability).
Section 603. Reporting suspected financial exploitation.
(a) Report to designated representative.--If a financial
institution employee has reason to believe that financial
exploitation of an older adult may have occurred, may have been
attempted or is being attempted, the financial institution
employee shall, within two days business days, report in writing
the suspected financial exploitation to a designated
representative of the financial institution.
(b) Review of report from financial institution employee.--
(1) No later than five business days following receipt
of a report under subsection (a), the designated
representative shall review the report.
(2) If, after review of the report under paragraph (1),
the designated representative concludes that there is
reasonable cause to believe that financial exploitation may
have occurred, may have been attempted or is being attempted,
the designated representative:
(i) Shall report the suspected financial
exploitation to the appropriate area agency on aging or
the department as follows:
(A) in writing;
(B) in an electronic record in the manner
authorized by section 304 of the act of December 16,
1999 (P.L.971, No.69), known as the Electronic
Transactions Act; or
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(C) orally, if authorized by the agency. If a
report is made orally, a record of the oral
communication must be contemporaneously made and
retained by the financial institution.
(ii) May provide a copy of the report of the alleged
financial exploitation to a law enforcement agency.
(c) Contents of report.--A report made under subsection (b)
(2) must provide all of the following:
(1) The name, age and address of the older adult.
(2) The name and address, if known, of the guardian or
next of kin of the older adult.
(3) The name and address of the financial institution
and the contact information for the individual submitting the
report.
(4) The nature of the suspected financial exploitation
of the older adult.
(5) Any specific comments, observations or other
information directly relating to the suspected financial
exploitation, the older adult and suspected perpetrator of
the financial exploitation that the financial institution
determines is needed to facilitate investigation of the
report.
(6) Whether a financial institution took an action
authorized under section 605.
(d) Related transactions.--A report made under subsection
(b)(2) may include a series of related transactions that have
occurred or may occur. A separate report shall not be required
for each transaction.
Section 604. Guidance by department.
(a) Authorization.--The department, in consultation with
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organizations representing financial institutions, shall, no
later than 12 months following enactment of this chapter,
develop guidance that provides for categories of incidents that
are to be excluded from the reporting requirements under this
chapter.
(b) Categories.--The categories described under subsection
(a) must include incidents generally not directed against an
older adult because of the individual's age or status as a care-
dependent individual or because the reporting under section 603
is unlikely to:
(1) result in an investigation by an area agency on
aging, the department or a law enforcement agency; or
(2) materially facilitate the protection of older
adults.
(c) Construction.--Guidance provided by the department under
this section may not be construed to prevent a designated
representative from voluntarily filing a report under section
603 for an incident excluded from mandatory reporting under this
section.
Section 605. Holding, refusing or preventing transactions.
(a) Authorization.--If a financial institution or a
financial institution employee has reasonable cause to believe
that financial exploitation of an older adult may have occurred,
may have been attempted or is being attempted, subject to
subsection (b), the financial institution may, pending an
investigation as outlined under this section, hold, refuse or
prevent:
(1) One or more transactions with or involving the older
adult.
(2) The withdrawal or disbursement of money contained in
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the account of the older adult.
(3) A change in ownership of the account of the older
adult.
(4) A transfer of money from the account of the older
adult to an account owned wholly or partially by another
person.
(5) Compliance with instructions given to the financial
institution by an agent, or a person acting for or with an
agent, under a power of attorney signed or purported to have
been signed by the older adult.
(6) The designation or change the designation of
beneficiaries to receive any property, benefit or contract
rights for the older adult at death.
(b) Conditions.--Authority to take an action under
subsection (a) shall be in accordance with the following:
(1) A hold may not last for more than seven business
days, unless a request for an extension of up to an
additional 15 business days is made by the area agency on
aging or law enforcement agency conducting the investigation
of the financial exploitation, by the department or by the
financial institution, if an area agency on aging or law
enforcement agency has not made a request to the financial
institution to extend or terminate the hold. A request from
an area agency on aging or law enforcement agency shall
provide cause, documented in writing, for the need for the
extension.
(2) The hold may end sooner than the period described
under paragraph (1) if:
(i) at the discretion of the financial institution,
based on a good faith assessment by the financial
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institution, the action will not result in the financial
exploitation of an older adult; or
(ii) a financial institution is ordered by a court
of competent jurisdiction to cease the hold; or
(iii) a cease of the hold is requested by a law
enforcement agency or area agency on aging.
(c) Duty to report.--If a financial institution takes an
action under subsection (a), the financial institution shall
make a report in accordance with section 603 no later than the
next business day.
(d) Notification.--
(1) Except as provided under Federal or State law, if a
financial institution takes an action under subsection (a) to
protect an older adult from financial exploitation, the
designated representative of the financial institution shall:
(i) Within one business day, notify the older adult
and each person authorized to transact business on the
account of the older adult, except the person reasonably
believed to have engaged in suspected or attempted
financial exploitation of the older adult.
(ii) Within five business days, notify each person
that the older adult has authorized to receive
notifications regarding activity on the account of the
older adult, except the person reasonably believed to
have engaged in suspected or attempted financial
exploitation of the older adult.
(2) A notification under paragraph (1):
(i) Must state that the financial institution has
temporarily held, refused or prevented the execution of
transactions as authorized by this chapter to protect the
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older adult from financial exploitation.
(ii) Must provide the name of the financial
institution and the telephone number or other contact
information of the financial institution for details
about the action taken.
(iii) Must identify the account of the older adult
or transaction to which the notification applies.
(iv) May be given:
(A) in writing;
(B) in an electronic record in the manner
authorized by section 304 of the act of December 16,
1999 (P.L.971, No.69), known as the Electronic
Transactions Act; or
(C) orally, if a record of the oral
communication is contemporaneously made and is
retained by the financial institution.
(e) Preservation of other authority.--Nothing in this act
shall be deemed to limit, qualify or impose conditions upon the
ability of a financial institution to hold, prevent or refuse
the performance of transactions involving an older adult as
authorized by any of the following:
(1) Existing Federal or State law.
(2) An account agreement between the financial
institution and the older adult.
Section 606. Assistance by persons authorized to have access to
an account of the older adult.
(a) Information provided by designated representative.--
Notwithstanding any other provision of law limiting or
prohibiting disclosure, and except as otherwise provided in
subsections (b) and (c), a designated representative may, at the
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designated representative's discretion, provide information
regarding an older adult to a person who is authorized to have
access to the account of the older adult sufficient to enable
the person to:
(1) consult with or assist the older adult in avoiding
or remedying suspected financial exploitation; or
(2) exercise the authority of the person to protect the
older adult.
(b) Financial exploitation.--Subsection (a) does not apply
if the financial institution has reason to believe the person is
knowingly engaged in or facilitating the financial exploitation
of the older adult.
(c) Disclosure of information.--Except when contacting an
authorized contact provided by an older adult to a financial
institution, a fiduciary authorized to manage some or all of the
financial affairs of the older adult or a co-owner, additional
authorized signatory or other person authorized to transact
business on the account of the older adult, a designated
representative:
(1) may disclose only that there is reasonable cause to
suspect that the older adult may be a victim or target of
financial exploitation and the nature of the suspected
financial exploitation; and
(2) may not disclose other details or confidential
personal information regarding the financial affairs of the
older adult.
Section 607. Records.
(a) Inclusion of and access to records.--
(1) Except as provided under paragraph (2), a financial
institution that submitted a report under section 603(b) in
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accordance with this section may, at the financial
institution's sole discretion, voluntarily include the
following in the report:
(i) copies of records that are reasonably relevant
to the suspected financial exploitation or attempted
financial exploitation of the older adult; or
(ii) access to the records described in subparagraph
(i) to the entity to which the report is submitted.
(2) Upon written request for access to or copies of the
records described in paragraph (1)(i) by an entity to which
the report under section 603(b) is submitted, the financial
institution shall provide to the entity, within 10 business
days, at no cost, access to or copies of the records, for the
purpose of performing an investigation of the suspected
financial exploitation or attempted financial exploitation.
(b) Confidentiality.--
(1) Section 306 shall not apply to the production of
records under this section.
(2) Records submitted or made accessible under
subsection (a) shall be privileged and given confidential
treatment and:
(i) Shall not be subject to discovery or admissible
as evidence in a private civil action.
(ii) Shall not be subject to subpoena.
(iii) Shall be exempt from access under the act of
February 14, 2008 (P.L.6, No.3), known as the Right-to-
Know Law.
(iv) Except as provided in paragraph (4), shall not
be made public by an entity that receives access to or
copies of the records in accordance with this chapter or
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by any other person without the prior written consent of
the financial institution.
(3) An employee of an entity or other person that
receives access to or copies of the records in accordance
with this chapter, while acting under the authority of the
entity or person, may not be permitted or required to testify
in a private civil action concerning confidential information
in the records.
(4) To assist in the performance of regulatory duties,
an area agency on aging, the department or a law enforcement
agency may:
(i) Use information submitted under this section in
furtherance of a regulatory or legal action brought under
this act or the laws of this Commonwealth.
(ii) Share information submitted under this section
with other regulatory or law enforcement officials of
this Commonwealth or other jurisdictions and third-party
consultants if, prior to receiving the reports from a
financial institution under this chapter, the recipient
demonstrates by written statement the necessary authority
and intent to give confidential treatment to the
information as required by this section.
(5) The sharing of information by a financial
institution under this section with, to or by an area agency
on aging, the department or a law enforcement agency in
accordance with this chapter does not constitute a waiver of
any applicable privilege or claim of confidentiality.
(c) Disclosures regarding investigations.--Notwithstanding
the requirements of section 306, an area agency on aging, the
department or a law enforcement agency that receives a report
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under section 603(b) and conducts an investigation regarding the
suspected financial exploitation described in the report may
disclose and discuss with a financial institution information
regarding the suspected financial exploitation and the results
of the investigation, to the extent reasonably necessary to
facilitate the financial institution's authority to:
(1) Take an action in accordance with section 605.
(2) Consult and provide assistance in accordance with
section 606.
(3) Provide records and access to records in accordance
with this section.
(d) Definitions.--As used in this section, the following
words and phrases shall have the meanings given to them in this
subsection unless the context clearly indicates otherwise:
"Records." Include:
(1) Documents and information regarding the most recent
suspected transaction or other prior transactions that may
constitute financial exploitation, not to exceed 60 calendar
days prior to the first transaction that was reported or 60
calendar days after the last transaction that was reported.
(2) Documents and information of an older act, which may
be subsequently supplemented, which a financial institution
believes, upon consultation with an area agency on aging, are
needed to provide protective services to the older adult.
Section 608. Model training program.
The department, in consultation with the Department of
Banking and Securities and representatives of the financial
services industry, shall develop a model training program for
financial institution employees and designated representatives
of financial institutions regarding the identification of
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activities that constitute financial exploitation of older
adults.
Section 609. Reports.
No later than six months following the effective date of this
section and by each December 31 thereafter, the department shall
prepare and issue a report including information for the prior
12-month period regarding:
(1) The number of reports made by a financial
institution under section 603, including:
(i) The number of occasions in which a financial
institution was contacted as part of an investigation of
potential financial exploitation by an area agency on
aging or law enforcement agency resulting from a report
made by the financial institution.
(ii) The average time in between a financial
institution making a report under section 603 and the
first contact by an area agency on aging or law
enforcement agency.
(2) The total number, dollar value and types of
transactions held by a financial institution under section
605, including:
(i) Each category of transactions.
(ii) The number and dollar value of the transactions
that were confirmed after investigation to represent
financial exploitation or attempted financial
exploitation.
(iii) The number and dollar value of the
transactions that were confirmed after investigation to
not represent financial exploitation or attempted
financial exploitation.
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(iv) The number and categories of transactions in
which an extension was requested in accordance with
section 605(b).
(v) The number and value of transactions that were
released in seven business days or less.
Section 610. Affidavit, certification or legal opinion.
A financial institution may rely on an affidavit that is
executed by an attorney for an older adult, or certification or
legal opinion by an attorney acting as an agent for an older
adult as provided under 20 Pa.C.S. § 5608 (relating to
acceptance of and reliance upon power of attorney), as
conclusive proof that a transaction does not represent financial
exploitation if:
(1) The attorney is licensed to practice law and is in
good standing in this Commonwealth.
(2) The affidavit states that the transaction is for the
purpose of establishing, implementing or continuing an estate
plan intended to reduce taxes or qualify the older adult or
the spouse of the older adult for public or private benefits.
(3) The attorney furnishes the affidavit, upon request,
to a designated representative of the financial institution.
Section 611. Penalties.
(a) Failure to report.--If a designated representative of a
financial institution willfully or intentionally fails to file a
report required under section 603, the financial institution
shall be subject to a penalty levied by the department, which
shall not be less than $500 nor exceed $2,500.
(b) Aiding in financial exploitation.--If a designated
representative or officer of a financial institution willfully
or intentionally aids in the financial exploitation of an older
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adult or commits a retaliatory action against a designated
representative or other employee of the financial institution
because of an attempt to comply with this chapter, the
designated representative or officer of a financial institution
commits a summary offense for the first violation and a
misdemeanor of the second degree for a second or subsequent
violation and shall, upon conviction, be sentenced to pay a fine
of not more than $5,000 or to imprisonment for not more than one
year, or both.
(c) Consultation.--The department shall consult, notify and
coordinate with the primary regulator of a financial institution
for:
(1) Investigating a financial institution for potential
violations of this chapter, including notifying the financial
institution's primary regulator that an investigation into a
potential penalty under this chapter has been initiated. The
department shall coordinate its investigation with the
financial institution's primary regulator.
(2) Penalties under this section shall be assessed
against a financial institution utilizing a matrix developed
by the department in consultation with the Department of
Banking and Securities.
Section 612. Immunity.
(a) Immunity generally.--A financial institution and a
designated representative, officer, employee and agent of the
financial institution shall have immunity from civil and
criminal liability for actions taken in good faith in accordance
with this chapter by the financial institution or designated
representative, officer, employee or agent of the financial
institution, including:
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(1) The identification and reporting of financial
exploitation as follows:
(i) Reports made under section 603.
(ii) Voluntary reports made by a financial
institution identifying or reporting on financial
exploitation or suspected financial exploitation.
(2) Taking or not taking an action to hold, refuse or
prevent a transaction under section 605(a), (b) and (c).
(3) Providing notifications under section 605(d).
(4) Taking or not taking action to disclose information
to and consult with a person reasonably associated with an
older adult under section 606.
(5) Providing or not providing access to records and
information under section 607(a)(1).
(6) Providing access to records under section 607(a)(2).
(7) Providing information to and receiving information
from an area agency on aging, the department or a law
enforcement agency that receives a report under section
603(b) and conducts the investigation regarding financial
exploitation under section 607(c).
(8) Relying on an affidavit, certification or opinion
provided under section 610.
(b) Additional immunities and defenses.--
(1) The holding, refusal or prevention by a financial
institution of a transaction authorized under this chapter
shall not constitute the wrongful dishonor of an item under
13 Pa.C.S. § 4402 (relating to liability of bank to customer
for wrongful dishonor; time of determining insufficiency of
account).
(2) A reasonable belief that payment of a check will
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facilitate the financial exploitation of an older adult shall
constitute reasonable grounds to doubt the collectability of
the item for purposes of 12 U.S.C. Chs. 41 (relating to
expedited funds availability) and 50 (relating to check
truncation) and 12 CFR Pt. 229 (relating to availability of
funds and collection of checks (Regulation CC)).
(c) Scope of immunity.--The immunities and defenses provided
under this section apply to a financial institution and to a
director, officer, designated representative, employee or agent
of a financial institution that does not willfully or
intentionally violate any requirements of this act or engage in
the willful or intentional financial exploitation of an older
adult.
Section 2. This act shall take effect immediately.
SECTION 1. THE ACT OF NOVEMBER 6, 1987 (P.L.381, NO.79),
KNOWN AS THE OLDER ADULTS PROTECTIVE SERVICES ACT, IS AMENDED BY
ADDING A CHAPTER TO READ:
CHAPTER 6
PREVENTION OF FINANCIAL EXPLOITATION
SECTION 601. DEFINITIONS.
THE FOLLOWING WORDS AND PHRASES WHEN USED IN THIS CHAPTER
SHALL HAVE THE MEANINGS GIVEN TO THEM IN THIS SECTION UNLESS THE
CONTEXT CLEARLY INDICATES OTHERWISE:
"ACCOUNT OF THE OLDER ADULT." AN ACCOUNT HELD BY A FINANCIAL
INSTITUTION IN WHICH THE OLDER ADULT IS THE OWNER, A CO-OWNER, A
TRUSTEE, A GUARDIAN, AN AGENT-IN-FACT, A BENEFICIARY, HAS A
BENEFICIAL INTEREST OR HAS ANY OTHER INTEREST OR RIGHTS.
"DEPARTMENT." THE DEPARTMENT OF AGING OF THE COMMONWEALTH.
"DESIGNATED REPRESENTATIVE." AN INDIVIDUAL WHO IS:
(1) DESIGNATED BY A FINANCIAL INSTITUTION AS THE
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INDIVIDUAL RESPONSIBLE FOR PROVIDING INFORMATION TO AN AREA
AGENCY ON AGING, THE DEPARTMENT OR A LAW ENFORCEMENT AGENCY
REGARDING THE SUSPECTED FINANCIAL EXPLOITATION OF OLDER
ADULTS; AND
(2) PROVIDED IMMUNITY FROM SUIT UNDER 12 U.S.C. § 3423
(RELATING TO IMMUNITY FROM SUIT FOR DISCLOSURE OF FINANCIAL
EXPLOITATION OF SENIOR CITIZENS) FOR DISCLOSING THE SUSPECTED
FINANCIAL EXPLOITATION OF OLDER ADULTS.
"FINANCIAL EXPLOITATION." AS DEFINED IN 18 PA.C.S. § 3922.1
(RELATING TO FINANCIAL EXPLOITATION OF AN OLDER ADULT OR CARE-
DEPENDENT PERSON) .
"FINANCIAL INSTITUTION." ANY OF THE FOLLOWING CONDUCTING
BUSINESS IN THIS COMMONWEALTH:
(1) A DEPOSITORY INSTITUTION AS DEFINED IN 12 U.S.C. §
1813(C) (RELATING TO DEFINITIONS).
(2) A FEDERAL CREDIT UNION OR STATE CREDIT UNION AS
DEFINED IN 12 U.S.C. § 1752 (RELATING TO DEFINITIONS),
INCLUDING AN INSTITUTION-AFFILIATED PARTY OF A CREDIT UNION
AS DEFINED IN 12 U.S.C. § 1786(R) (RELATING TO TE RMINATION OF
INSURED CREDIT UNION STATUS AND CEASE AND DESIST ORDERS AND
REMOVAL OR SUSPENSION FROM OFFICE AND PROCEDURE) .
(3) A FINANCIAL INSTITUTION UNDER 31 CFR PT. 1020
(RELATING TO RULES FOR BANKS) THAT IS REQUIRED TO FILE A
SUSPICIOUS ACTIVITY REPORT.
(4) A PERSON SUBJECT TO SUPERVISION BY THE DEPARTMENT OF
BANKING AND SECURITIES OR COMPARABLE FEDERAL OR STATE BANK
SUPERVISORY OR REGULATORY AUTHORITY.
"FINANCIAL INSTITUTION EMPLOYEE." AN EMPLOYEE OF A FINANCIAL
INSTITUTION WHO HAS DIRECT CONTACT WITH AN OLDER ADULT.
"GOOD FAITH." AS DEFINED IN 13 PA.C.S. § 5102 (RELATING TO
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DEFINITIONS).
"LAW ENFORCEMENT AGENCY." ANY OF THE FOLLOWING:
(1) THE OFFICE OF ATTORNEY GENERAL.
(2) A COUNTY DISTRICT ATTORNEY'S OFFICE.
(3) AN AGENCY THAT EMPLOYS A LAW ENFORCEMENT OFFICER.
"LAW ENFORCEMENT OFFICER." ANY OF THE FOLLOWING:
(1) A MEMBER OF THE PENNSYLVANIA STATE POLICE.
(2) AN INDIVIDUAL EMPLOYED AS A POLICE OFFICER WHO HOLDS
A CURRENT CERTIFICATE UNDER 53 PA.C.S. CH. 21 SUBCH. D
(RELATING TO MUNICIPAL POLICE EDUCATION AND TRAINING).
(3) A SHERIFF OR DEPUTY SHERIFF.
(4) A FEDERAL LAW ENFORCEMENT OFFICER OR AGENT.
"LOCAL PROVIDER OF PROTECTIVE SERVICES." THE AGENCY WHICH IS
THE LOCAL PROVIDER OF PROTECTIVE SERVICES UNDER SECTION 302.
"PERSON IN A POSITION OF TRUST TO THE OLDER ADULT." THE TERM
SHALL HAVE THE SAME MEANING AS THE TERM "POSITION OF TRUST" AS
DEFINED UNDER 18 PA.C.S. § 3922.1(F) (RELATING TO FINANCIAL
EXPLOITATION OF AN OLDER ADULT OR CARE-DEPENDENT PERSON).
"PERSON WHO IS AUTHORIZED TO HAVE ACCESS TO THE ACCOUNT OF
THE OLDER ADULT." THE TERM INCLUDES:
(1) AN AUTHORIZED CONTACT PROVIDED BY AN OLDER ADULT TO
A FINANCIAL INSTITUTION OR AN AUTHORIZED SIGNATORY ON THE
ACCOUNT OF THE OLDER ADULT.
(2) A FIDUCIARY AUTHORIZED TO MANAGE SOME OR ALL OF THE
FINANCIAL AFFAIRS OF THE OLDER ADULT.
(3) A CO-OWNER OF AN ACCOUNT OR OTHER PERSON AUTHORIZED
TO TRANSACT BUSINESS OF AN ACCOUNT OF THE OLDER ADULT.
(4) AN ATTORNEY OR FINANCIAL PROFESSIONAL KNOWN TO
REPRESENT, OR HAVE REPRESENTED, OR TO ASSIST IN THE
MANAGEMENT OF THE FINANCIAL AFFAIRS OF THE OLDER ADULT.
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"TRANSACTION." THE TERM INCLUDES:
(1) A TRANSFER OR DISBURSEMENT OF, OR A REQUEST TO
TRANSFER OR DISBURSE, MONEY, ASSETS OR ANY OTHER TANGIBLE OR
INTANGIBLE ITEM OF VALUE.
(2) A REQUEST TO INITIATE A WIRE TRANSFER, INITIATE AN
AUTOMATED CLEARINGHOUSE TRANSFER OR ISSUE A MONEY ORDER,
CASHIER'S CHECK OR OFFICIAL CHECK.
(3) A REQUEST TO NEGOTIATE A CHECK OR OTHER NEGOTIABLE
INSTRUMENT.
(4) A REQUEST TO CHANGE THE OWNERSHIP OF, OR ACCESS TO,
AN ACCOUNT.
(5) A REQUEST TO SELL OR TRANSFER A SECURITY OR OTHER
ASSET OR A REQUEST TO AFFIX A MEDALLION STAMP OR PROVIDE ANY
FORM OF GUARANTEE OR ENDORSEMENT IN CONNECTION WITH AN
ATTEMPT TO SELL OR TRANSFER A SECURITY OR OTHER ASSET.
(6) A REQUEST FOR A LOAN, EXTENSION OF CREDIT OR DRAW ON
A LINE OF CREDIT.
(7) A REQUEST TO ENCUMBER MOVABLE OR IMMOVABLE PROPERTY.
(8) A REQUEST TO DESIGNATE OR CHANGE THE DESIGNATION OF
BENEFICIARIES TO RECEIVE ANY PROPERTY, BENEFIT OR CONTRACT
RIGHT.
(9) A REQUEST FOR ACCESS TO A SAFE DEPOSIT BOX.
(10) EXCEPT AS AUTHORIZED BY THIS CHAPTER, A REQUEST FOR
ACCESS REGARDING NONPUBLIC INFORMATION REGARDING THE OLDER
ADULT.
SECTION 602. REPORTING SUSPECTED FINANCIAL EXPLOITATION.
(A) VOLUNTARY REPORT BY DESIGNATED REPRESENTATIVE.--IF ANY
PERSON INVOLVED IN THE OPERATION OF A FINANCIAL INSTITUTION HAS
REASON TO BELIEVE THAT FINANCIAL EXPLOITATION OF AN OLDER ADULT
MAY HAVE OCCURRED, MAY HAVE BEEN ATTEMPTED OR IS BEING
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ATTEMPTED, A DESIGNATED REPRESENTATIVE OF THE FINANCIAL
INSTITUTION MAY REPORT THE SUSPECTED FINANCIAL EXPLOITATION TO A
LOCAL PROVIDER OF PROTECTIVE SERVICES, A LAW ENFORCEMENT AGENCY
OR THE DEPARTMENT.
(B) REQUIRED REPORT BY DESIGNATED REPRESENTATIVE.--
(1) A FINANCIAL INSTITUTION EMPLOYEE SHALL, EXCEPT AS
PROVIDED BY SECTION 603(C), MAKE A REPORT WITHIN FIVE
BUSINESS DAYS IN WRITING TO A DESIGNATED REPRESENTATIVE OF
THE FINANCIAL INSTITUTION, IF THE EMPLOYEE HAS REASON TO
BELIEVE THAT FINANCIAL EXPLOITATION OF AN OLDER ADULT MAY
HAVE OCCURRED, MAY HAVE BEEN ATTEMPTED OR IS BEING ATTEMPTED,
IN ONE OR MORE OF THE FOLLOWING CIRCUMSTANCES:
(I) THE EMPLOYEE HAS REASON TO BELIEVE AN OLDER
ADULT IS OF DIMINISHED COGNITIVE CAPACITY.
(II) A PERSON BELIEVED TO BE RESPONSIBLE FOR OR
PARTICIPATING IN THE FINANCIAL EXPLOITATION IS A PERSON
WHO IS AUTHORIZED TO HAVE ACCESS TO THE ACCOUNT OF THE
OLDER ADULT, OR IS A PERSON IN A POSITION OF TRUST TO THE
OLDER ADULT.
(III) THE FINANCIAL INSTITUTION HAS EXERCISED THE
AUTHORITY PROVIDED BY SECTION 603(A) TO HOLD, REFUSE OR
PREVENT A TRANSACTION.
(2) EXCEPT AS PROVIDED IN SECTION 603(C), NOT LATER THAN
FIVE BUSINESS DAYS FOLLOWING RECEIPT OF A REPORT UNDER
PARAGRAPH (1), THE DESIGNATED REPRESENTATIVE SHALL REVIEW THE
REPORT.
(3) IF, AFTER REVIEW OF THE REPORT, THE DESIGNATED
REPRESENTATIVE CONCLUDES THAT THERE IS REASONABLE CAUSE TO
BELIEVE THAT FINANCIAL EXPLOITATION UNDER THE CIRCUMSTANCES
DESCRIBED IN PARAGRAPH (1) MAY HAVE OCCURRED, MAY HAVE BEEN
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ATTEMPTED OR IS BEING ATTEMPTED, THE DESIGNATED
REPRESENTATIVE SHALL REPORT THE SUSPECTED FINANCIAL
EXPLOITATION TO THE LOCAL PROVIDER OF PROTECTIVE SERVICES.
(C) METHOD OF REPORTING.--A REPORT UNDER THIS SECTION MAY BE
MADE:
(1) IN WRITING; OR
(2) ORALLY, IF AUTHORIZED BY THE AGENCY, A LAW
ENFORCEMENT AGENCY OR THE DEPARTMENT. IF A REPORT IS MADE
ORALLY, A RECORD OF THE ORAL COMMUNICATION MUST BE
CONTEMPORANEOUSLY MADE AND RETAINED BY THE FINANCIAL
INSTITUTION.
(D) CONTENTS OF REPORT.--A REPORT MADE UNDER SUBSECTION (B)
(3) SHALL PROVIDE ALL OF THE FOLLOWING:
(1) THE NAME, AGE AND ADDRESS OF THE OLDER ADULT.
(2) THE NAME AND ADDRESS, IF KNOWN, OF THE GUARDIAN OR
NEXT OF KIN OF THE OLDER ADULT.
(3) THE NAME AND ADDRESS OF THE FINANCIAL INSTITUTION
AND THE CONTACT INFORMATION FOR THE INDIVIDUAL SUBMITTING THE
REPORT.
(4) THE NATURE OF THE SUSPECTED FINANCIAL EXPLOITATION
OF THE OLDER ADULT.
(5) ANY SPECIFIC COMMENTS, OBSERVATIONS OR OTHER
INFORMATION DIRECTLY RELATING TO THE SUSPECTED FINANCIAL
EXPLOITATION, THE OLDER ADULT AND SUSPECTED PERPETRATOR OF
THE FINANCIAL EXPLOITATION THAT THE FINANCIAL INSTITUTION
DETERMINES IS NEEDED TO FACILITATE INVESTIGATION OF THE
REPORT.
(6) WHETHER A FINANCIAL INSTITUTION TOOK AN ACTION
AUTHORIZED UNDER SECTION 605.
(E) RELATED TRANSACTIONS.--A REPORT MADE UNDER SUBSECTION
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(B)(3) MAY INCLUDE A SERIES OF RELATED TRANSACTIONS THAT HAVE
OCCURRED OR MAY OCCUR. A SEPARATE REPORT SHALL NOT BE REQUIRED
FOR EACH TRANSACTION.
SECTION 603. HOLDING, REFUSING OR PREVENTING TRANSACTIONS.
(A) AUTHORIZATION.--IF A FINANCIAL INSTITUTION OR FINANCIAL
INSTITUTION EMPLOYEE HAS REASONABLE CAUSE TO BELIEVE THAT
FINANCIAL EXPLOITATION OF AN OLDER ADULT MAY HAVE OCCURRED, MAY
HAVE BEEN ATTEMPTED OR IS BEING ATTEMPTED, FOR THE PURPOSE OF
PROTECTING THE OLDER ADULT, THE FINANCIAL INSTITUTION MAY HOLD,
REFUSE OR PREVENT:
(1) ONE OR MORE TRANSACTIONS WITH OR INVOLVING THE OLDER
ADULT, AN ACCOUNT OF THE OLDER ADULT OR AN ACCOUNT OF A
PERSON SUSPECTED TO BE ENGAGED IN THE FINANCIAL EXPLOITATION
OF THE OLDER ADULT.
(2) THE WITHDRAWAL OR DISBURSEMENT OF MONEY CONTAINED IN
THE ACCOUNT OF THE OLDER ADULT.
(3) A CHANGE IN OWNERSHIP OF THE ACCOUNT OF THE OLDER
ADULT.
(4) A TRANSFER OF MONEY FROM THE ACCOUNT OF THE OLDER
ADULT TO AN ACCOUNT OWNED WHOLLY OR PARTIALLY BY ANOTHER
PERSON.
(5) COMPLIANCE WITH INSTRUCTIONS GIVEN TO THE FINANCIAL
INSTITUTION BY AN AGENT, OR A PERSON ACTING FOR OR WITH AN
AGENT, UNDER A POWER OF ATTORNEY SIGNED OR PURPORTED TO HAVE
BEEN SIGNED BY THE OLDER ADULT.
(B) LENGTH OF HOLD.--
(1) A HOLD OF A TRANSACTION AUTHORIZED BY SUBSECTION (A)
MAY NOT LAST FOR MORE THAN SEVEN BUSINESS DAYS, UNLESS:
(I) A REQUEST FOR AN EXTENSION OF UP TO AN
ADDITIONAL 15 BUSINESS DAYS IS MADE IN WRITING BY THE
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LOCAL PROVIDER OF PROTECTIVE SERVICES, A LAW ENFORCEMENT
AGENCY CONDUCTING THE INVESTIGATION OF THE FINANCIAL
EXPLOITATION OR THE DEPARTMENT; OR
(II) A REQUEST FOR AN EXTENSION HAS NOT BEEN MADE
UNDER SUBPARAGRAPH (I), AND THE FINANCIAL INSTITUTION AT
ITS DISCRETION DETERMINES AN EXTENSION OF UP TO 15
BUSINESS DAYS IS APPROPRIATE.
(2) A REQUEST FROM THE LOCAL PROVIDER OF PROTECTIVE
SERVICES OR LAW ENFORCEMENT AGENCY TO EXTEND A HOLD SHALL
PROVIDE CAUSE, DOCUMENTED IN WRITING, FOR THE NEED FOR THE
EXTENSION.
(C) DUTY TO REPORT.--IF ANY EMPLOYEE, AUTHORIZED
REPRESENTATIVE OR AGENT OF A FINANCIAL INSTITUTION TAKES AN
ACTION ON BEHALF OF THE INSTITUTION UNDER SUBSECTION (A), THE
ACTION MUST BE REPORTED TO A DESIGNATED REPRESENTATIVE OF THE
FINANCIAL INSTITUTION ON THE DAY THE ACTION IS TAKEN, BUT NOT
LATER THAN THE NEXT BUSINESS DAY, AND REPORTED BY THE DESIGNATED
REPRESENTATIVE TO THE LOCAL PROVIDER OF PROTECTIVE SERVICES IN
ACCORDANCE WITH SECTION 602.
(D) NOTIFICATION.--
(1) EXCEPT AS PROVIDED UNDER FEDERAL OR STATE LAW, IF A
FINANCIAL INSTITUTION TAKES AN ACTION UNDER SUBSECTION (A) TO
PROTECT AN OLDER ADULT FROM FINANCIAL EXPLOITATION, THE
DESIGNATED REPRESENTATIVE OF THE FINANCIAL INSTITUTION SHALL:
(I) WITHIN ONE BUSINESS DAY, NOTIFY THE OLDER ADULT
AND EACH PERSON AUTHORIZED TO TRANSACT BUSINESS ON THE
ACCOUNT OF THE OLDER ADULT, EXCEPT THE PERSON REASONABLY
BELIEVED TO HAVE ENGAGED IN SUSPECTED OR ATTEMPTED
FINANCIAL EXPLOITATION OF THE OLDER ADULT.
(II) WITHIN FIVE BUSINESS DAYS, NOTIFY EACH PERSON
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THAT THE OLDER ADULT HAS AUTHORIZED TO RECEIVE
NOTIFICATIONS REGARDING ACTIVITY ON THE ACCOUNT OF THE
OLDER ADULT, EXCEPT THE PERSON REASONABLY BELIEVED TO
HAVE ENGAGED IN SUSPECTED OR ATTEMPTED FINANCIAL
EXPLOITATION OF THE OLDER ADULT.
(2) A NOTIFICATION UNDER PARAGRAPH (1):
(I) MUST STATE THAT THE FINANCIAL INSTITUTION HAS
TEMPORARILY HELD, REFUSED OR PREVENTED THE EXECUTION OF
TRANSACTIONS AS AUTHORIZED BY THIS CHAPTER TO PROTECT THE
OLDER ADULT FROM FINANCIAL EXPLOITATION.
(II) MUST PROVIDE THE NAME OF THE FINANCIAL
INSTITUTION AND THE TELEPHONE NUMBER OR OTHER CONTACT
INFORMATION OF THE FINANCIAL INSTITUTION FOR DETAILS
ABOUT AN ACTION TAKEN.
(III) MUST IDENTIFY THE ACCOUNT OF THE OLDER ADULT
OR TRANSACTION TO WHICH THE NOTIFICATION APPLIES.
(IV) MAY BE GIVEN:
(A) IN WRITING; OR
(B) ORALLY, IF A RECORD OF THE ORAL
COMMUNICATION IS CONTEMPORANEOUSLY MADE AND IS
RETAINED BY THE FINANCIAL INSTITUTION.
(E) PRESERVATION OF OTHER AUTHORITY.--NOTHING IN THIS
CHAPTER MAY BE CONSTRUED TO LIMIT, QUALIFY OR IMPOSE CONDITIONS
ON THE ABILITY OF A FINANCIAL INSTITUTION TO HOLD, PREVENT OR
REFUSE THE PERFORMANCE OF TRANSACTIONS INVOLVING AN OLDER ADULT
AS AUTHORIZED BY:
(1) EXISTING FEDERAL OR STATE LAW.
(2) AN ACCOUNT AGREEMENT BETWEEN THE FINANCIAL
INSTITUTION AND THE OLDER ADULT.
SECTION 604. ASSISTANCE BY PERSONS AUTHORIZED TO HAVE ACCESS TO
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AN ACCOUNT OF AN OLDER ADULT.
(A) INFORMATION PROVIDED BY DESIGNATED REPRESENTATIVE.--
NOTWITHSTANDING ANY OTHER PROVISION OF LAW LIMITING OR
PROHIBITING DISCLOSURE, AND EXCEPT AS OTHERWISE PROVIDED IN
SUBSECTION (B), A DESIGNATED REPRESENTATIVE MAY PROVIDE
INFORMATION REGARDING AN OLDER ADULT TO A PERSON THAT IS
AUTHORIZED TO HAVE ACCESS TO THE OLDER ADULT'S ACCOUNT
SUFFICIENT TO ENABLE THE PERSON TO:
(1) CONSULT WITH OR ASSIST THE OLDER ADULT IN AVOIDING
OR REMEDYING SUSPECTED FINANCIAL EXPLOITATION; OR
(2) EXERCISE THE AUTHORITY OF THE PERSON TO PROTECT THE
OLDER ADULT.
(B) FINANCIAL EXPLOITATION.--SUBSECTION (A) DOES NOT APPLY
IF THE FINANCIAL INSTITUTION HAS REASON TO BELIEVE THE PERSON IS
KNOWINGLY ENGAGED IN OR FACILITATING THE FINANCIAL EXPLOITATION
OF THE OLDER ADULT.
SECTION 605. RECORDS.
(A) INCLUSION OF AND ACCESS TO RECORDS.--
(1) EXCEPT AS PROVIDED IN PARAGRAPH (2), A FINANCIAL
INSTITUTION THAT SUBMITTED A REPORT UNDER SECTION 602(A) MAY,
IN ACCORDANCE WITH THIS SECTION, IN THE FINANCIAL
INSTITUTION'S SOLE DISCRETION, VOLUNTARILY INCLUDE IN THE
REPORT, OR SEPARATELY PROVIDE TO THE AGENCY TO WHICH THE
REPORT WAS MADE, COPIES OF OR ACCESS TO RECORDS THAT ARE
REASONABLY RELEVANT TO THE SUSPECTED FINANCIAL EXPLOITATION
OR ATTEMPTED FINANCIAL EXPLOITATION OF THE OLDER ADULT.
(2) AFTER WRITTEN REQUEST FOR ACCESS TO OR COPIES OF THE
RECORDS DESCRIBED IN PARAGRAPH (1) BY THE LOCAL PROVIDER OF
PROTECTIVE SERVICES TO WHICH THE REPORT UNDER SECTION 604(B)
IS SUBMITTED, A DESIGNATED REPRESENTATIVE OF A FINANCIAL
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INSTITUTION SHALL PROVIDE TO THE PROVIDER, WITHIN 10 BUSINESS
DAYS, ACCESS TO OR COPIES OF THE RECORDS, FOR THE PURPOSE OF
PERFORMING AN INVESTIGATION OF THE SUSPECTED FINANCIAL
EXPLOITATION OR ATTEMPTED FINANCIAL EXPLOITATION. THE RECORDS
SHALL BE LIMITED TO A PERIOD NOT TO EXCEED 60 DAYS PRIOR TO
THE FIRST REPORTED INCIDENT OF ACTUAL, SUSPECTED OR ATTEMPTED
FINANCIAL EXPLOITATION AND 60 DAYS AFTER THE LAST REPORTED
INCIDENT, UNLESS THE PROVISION OF ADDITIONAL RECORDS IS
REQUIRED BY A COURT ORDER ISSUED PURSUANT TO A PETITION FILED
BY THE AGENCY UNDER THE CONDITIONS PROVIDED IN SECTION
304(H).
(3) THE LOCAL PROVIDER OF PROTECTIVE SERVICES MAY
COMPENSATE A FINANCIAL INSTITUTION REQUIRED TO PROVIDE COPIES
OF RECORDS UNDER PARAGRAPH (2) FOR THE REASONABLE COSTS OF
PRODUCING RECORDS IN A MANNER CONSISTENT WITH THE
REQUIREMENTS OF 12 U.S.C. § 3415 (RELATING TO COST
REIMBURSEMENT).
(B) CONFIDENTIALITY.--
(1) SECTION 306 SHALL NOT APPLY TO THE PRODUCTION OF
RECORDS UNDER THIS SECTION.
(2) RECORDS SUBMITTED OR MADE ACCESSIBLE UNDER
SUBSECTION (A) SHALL BE PRIVILEGED AND GIVEN CONFIDENTIAL
TREATMENT AND:
(I) SHALL NOT BE SUBJECT TO DISCOVERY OR ADMISSIBLE
AS EVIDENCE IN A PRIVATE CIVIL ACTION.
(II) SHALL NOT BE SUBJECT TO SUBPOENA.
(III) SHALL BE EXEMPT FROM ACCESS UNDER THE ACT OF
FEBRUARY 14, 2008 (P.L.6, NO.3), KNOWN AS THE RIGHT-TO-
KNOW LAW.
(IV) EXCEPT AS PROVIDED IN PARAGRAPH (4), SHALL NOT
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BE MADE PUBLIC BY AN ENTITY THAT RECEIVES ACCESS TO OR
COPIES OF THE RECORDS IN ACCORDANCE WITH THIS CHAPTER OR
BY ANY OTHER PERSON WITHOUT THE PRIOR WRITTEN CONSENT OF
THE FINANCIAL INSTITUTION.
(3) AN EMPLOYEE OF AN ENTITY OR OTHER PERSON THAT
RECEIVES ACCESS TO OR COPIES OF THE RECORDS IN ACCORDANCE
WITH THIS CHAPTER, WHILE ACTING UNDER THE AUTHORITY OF THE
ENTITY OR PERSON, MAY NOT BE PERMITTED OR REQUIRED TO TESTIFY
IN A PRIVATE CIVIL ACTION CONCERNING CONFIDENTIAL INFORMATION
IN THE RECORDS.
(4) TO ASSIST IN THE PERFORMANCE OF REGULATORY DUTIES,
AN AREA AGENCY ON AGING, THE DEPARTMENT OR A LAW ENFORCEMENT
AGENCY MAY:
(I) USE INFORMATION SUBMITTED UNDER THIS SECTION IN
FURTHERANCE OF A REGULATORY OR LEGAL ACTION BROUGHT UNDER
THIS ACT OR THE LAWS OF THIS COMMONWEALTH.
(II) SHARE INFORMATION SUBMITTED UNDER THIS SECTION
WITH OTHER REGULATORY OR LAW ENFORCEMENT OFFICIALS OF
THIS COMMONWEALTH OR OTHER JURISDICTIONS AND THIRD-PARTY
CONSULTANTS IF, PRIOR TO RECEIVING THE REPORTS FROM A
FINANCIAL INSTITUTION UNDER THIS CHAPTER, THE RECIPIENT
DEMONSTRATES BY WRITTEN STATEMENT THE NECESSARY AUTHORITY
AND INTENT TO GIVE CONFIDENTIAL TREATMENT TO THE
INFORMATION AS REQUIRED BY THIS SECTION.
(5) THE SHARING OF RECORDS OR INFORMATION CONTAINED IN
RECORDS BY A FINANCIAL INSTITUTION UNDER THIS SECTION WITH A
LOCAL PROVIDER OF PROTECTIVE SERVICES, THE DEPARTMENT OR A
LAW ENFORCEMENT AGENCY, OR THE SHARING OF THE RECORDS OR
INFORMATION CONTAINED IN THE RECORDS WITH OFFICIALS OR
CONSULTANTS AS AUTHORIZED BY PARAGRAPH (4)(II) IN ACCORDANCE
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WITH THIS CHAPTER DOES NOT CONSTITUTE A WAIVER OF ANY
APPLICABLE PRIVILEGE OR CLAIM OF CONFIDENTIALITY.
(C) DISCLOSURES REGARDING INVESTIGATIONS.--NOTWITHSTANDING
THE REQUIREMENTS OF SECTION 306, THE DEPARTMENT OR A LAW
ENFORCEMENT AGENCY THAT RECEIVES A REPORT UNDER SECTION 602 AND
CONDUCTS AN INVESTIGATION REGARDING THE SUSPECTED FINANCIAL
EXPLOITATION DESCRIBED IN THE REPORT MAY DISCLOSE AND DISCUSS
WITH A FINANCIAL INSTITUTION INFORMATION REGARDING THE SUSPECTED
FINANCIAL EXPLOITATION AND THE RESULTS OF THE INVESTIGATION, TO
THE EXTENT REASONABLY NECESSARY TO FACILITATE THE FINANCIAL
INSTITUTION'S AUTHORITY TO:
(1) TAKE AN ACTION IN ACCORDANCE WITH SECTION 603.
(2) CONSULT AND PROVIDE ASSISTANCE IN ACCORDANCE WITH
SECTION 604.
(3) PROVIDE RECORDS AND ACCESS TO RECORDS IN ACCORDANCE
WITH THIS SECTION.
SECTION 606. MODEL TRAINING PROGRAM.
THE DEPARTMENT, IN CONSULTATION WITH THE DEPARTMENT OF
BANKING AND SECURITIES AND REPRESENTATIVES OF THE FINANCIAL
SERVICES INDUSTRY, SHALL DEVELOP OR DESIGNATE A MODEL TRAINING
PROGRAM FOR FINANCIAL INSTITUTION EMPLOYEES AND DESIGNATED
REPRESENTATIVES OF FINANCIAL INSTITUTIONS REGARDING THE
IDENTIFICATION OF ACTIVITIES THAT CONSTITUTE FINANCIAL
EXPLOITATION OF OLDER ADULTS.
SECTION 607. AFFIDAVIT, CERTIFICATION OR LEGAL OPINION.
A FINANCIAL INSTITUTION MAY RELY ON AN AFFIDAVIT THAT IS
EXECUTED BY AN ATTORNEY FOR AN OLDER ADULT, OR CERTIFICATION OR
LEGAL OPINION BY AN ATTORNEY ACTING AS AN AGENT FOR AN OLDER
ADULT PROVIDED UNDER 20 PA.C.S. § 5608 (RELATING TO ACCEPTANCE
OF AND RELIANCE UPON POWER OF ATTORNEY) AS CONCLUSIVE PROOF THAT
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A TRANSACTION DOES NOT REPRESENT FINANCIAL EXPLOITATION IF:
(1) THE ATTORNEY IS LICENSED TO PRACTICE LAW AND IS IN
GOOD STANDING IN THIS COMMONWEALTH.
(2) THE AFFIDAVIT STATES THAT THE TRANSACTION IS FOR THE
PURPOSE OF ESTABLISHING, IMPLEMENTING OR CONTINUING AN ESTATE
PLAN INTENDED TO REDUCE TAXES OR QUALIFY THE OLDER ADULT OR
THE SPOUSE OF THE OLDER ADULT FOR PUBLIC OR PRIVATE BENEFITS.
(3) THE ATTORNEY FURNISHES THE AFFIDAVIT, UPON REQUEST,
TO A DESIGNATED REPRESENTATIVE OF THE FINANCIAL INSTITUTION.
SECTION 608. PENALTIES.
(A) PROSECUTION.--A DIRECTOR, OFFICER, DESIGNATED
REPRESENTATIVE, EMPLOYEE OR AGENT OF A FINANCIAL INSTITUTION
COMMITS A SUMMARY OFFENSE FOR THE FIRST VIOLATION AND A
MISDEMEANOR OF THE SECOND DEGREE FOR A SECOND OR SUBSEQUENT
VIOLATION AND SHALL, UPON CONVICTION, BE SENTENCED TO PAY A FINE
OF NOT MORE THAN $5,000 OR TO IMPRISONMENT FOR NOT MORE THAN ONE
YEAR, OR BOTH, FOR:
(1) WILLFULLY OR INTENTIONALLY AIDING IN THE FINANCIAL
EXPLOITATION OF AN OLDER ADULT; OR
(2) ENGAGING IN RETALIATORY ACTION AGAINST A DIRECTOR,
OFFICER, DESIGNATED REPRESENTATIVE, EMPLOYEE OR AGENT OF A
FINANCIAL INSTITUTION BECAUSE OF AN ATTEMPT TO COMPLY WITH
THIS CHAPTER.
(B) CIVIL PENALTY.--IF A FINANCIAL INSTITUTION EMPLOYEE OR A
DESIGNATED REPRESENTATIVE WILLFULLY OR INTENTIONALLY FAILS TO
FILE A REPORT AS REQUIRED UNDER SECTION 602(B) OR 603(C),
PROVIDE A NOTIFICATION REQUIRED BY SECTION 603(D), OR TO PRODUCE
COPIES OF RECORDS OR PROVIDE ACCESS TO RECORDS AS REQUIRED BY
SECTION 605(A)(2), THE FINANCIAL INSTITUTION SHALL BE SUBJECT TO
A CIVIL PENALTY LEVIED BY THE DEPARTMENT, WHICH SHALL NOT BE
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LESS THAN $500 OR EXCEED $2,500. THE ASSESSMENT OF PENALTIES BY
THE DEPARTMENT SHALL BE SUBJECT TO 2 PA.C.S. CHS. 5 SUBCH. A
(RELATING TO PRACTICE AND PROCEDURE OF COMMONWEALTH AGENCIES)
AND 7 SUBCH. A (RELATING TO JUDICIAL REVIEW OF COMMONWEALTH
AGENCY ACTION).
(C) PENALTY MATRIX.--PENALTIES SHALL BE ASSESSED UTILIZING A
MATRIX FOR DETERMINING THE AMOUNT A FINANCIAL INSTITUTION MAY BE
PENALIZED UNDER THIS SECTION. THE MATRIX USED IN THE ASSESSMENT
OF PENALTIES UNDER THIS SECTION SHALL BE DEVELOPED IN
COORDINATION WITH THE DEPARTMENT OF BANKING AND SECURITIES.
(D) CONSULTATION.--THE ATTORNEY GENERAL OR A DISTRICT
ATTORNEY PROSECUTING A VIOLATION OF THIS SECTION AND ANY LAW
ENFORCEMENT AGENCY INVESTIGATING A FINANCIAL INSTITUTION FOR
POTENTIAL VIOLATIONS OF THIS SECTION, SHALL CONSULT WITH AND
COORDINATE ITS INVESTIGATION WITH THE DEPARTMENT, THE DEPARTMENT
OF BANKING AND THE FINANCIAL INSTITUTION'S PRIMARY REGULATOR.
(E) CONSTRUCTION.--
(1) FOR PURPOSES OF SUBSECTION (A), THE IMPOSITION OF
REASONABLE DISCIPLINARY ACTION FOR THE FAILURE OF AN EMPLOYEE
OF A FINANCIAL INSTITUTION TO FOLLOW THE INSTITUTION'S
POLICIES AND PROCEDURES RELATING TO THE IMPLEMENTATION OF
THIS CHAPTER SHALL NOT BE CONSIDERED A RETALIATORY ACTION.
(2) SECTION 302(C) AND (C.1) SHALL NOT APPLY TO A PERSON
SUBJECT TO PROSECUTION UNDER SUBSECTION (A)(2).
(3) THE AUTHORIZATION FOR THE DEPARTMENT TO ASSESS CIVIL
PENALTIES IN SUBSECTION (C) IS NOT SUBJECT TO SECTION 506(D),
(F) AND (G) OF THE ACT OF MAY 15, 1933 (P.L.565, NO.111),
KNOWN AS THE DEPARTMENT OF BANKING AND SECURITIES CODE.
SECTION 609. IMMUNITY.
(A) IMMUNITY GENERALLY.--EXCEPT AS PROVIDED IN SECTION 608,
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A FINANCIAL INSTITUTION AND A DESIGNATED REPRESENTATIVE,
OFFICER, EMPLOYEE AND AGENT OF THE FINANCIAL INSTITUTION SHALL
HAVE IMMUNITY FROM CIVIL AND CRIMINAL LIABILITY FOR ACTIONS
TAKEN IN GOOD FAITH IN ACCORDANCE WITH THIS CHAPTER BY THE
FINANCIAL INSTITUTION OR A DESIGNATED REPRESENTATIVE, OFFICER,
EMPLOYEE OR AGENT OF THE FINANCIAL INSTITUTION, INCLUDING:
(1) THE IDENTIFICATION AND REPORTING OF FINANCIAL
EXPLOITATION UNDER SECTIONS 602 AND 603(C).
(2) TAKING OR NOT TAKING AN ACTION TO HOLD, REFUSE OR
PREVENT A TRANSACTION UNDER SECTION 603.
(3) PROVIDING NOTIFICATIONS UNDER SECTION 603(D).
(4) TAKING OR NOT TAKING ACTION UNDER SECTION 604 TO
DISCLOSE INFORMATION TO AND CONSULT WITH A PERSON WHO IS
AUTHORIZED TO HAVE ACCESS TO AN ACCOUNT OF AN OLDER ADULT.
(5) PROVIDING OR NOT PROVIDING COPIES OF RECORDS OR
ACCESS TO RECORDS AS AUTHORIZED BY SECTION 605(A)(1).
(6) PROVIDING COPIES OF OR ACCESS TO RECORDS UNDER
SECTION 605(A)(2).
(7) RECEIVING DISCLOSURES AS AUTHORIZED BY SECTION
605(C).
(8) RELYING ON AN AFFIDAVIT, CERTIFICATION OR OPINION
PROVIDED UNDER SECTION 607.
(B) ADDITIONAL IMMUNITIES AND DEFENSES.--
(1) THE HOLDING, REFUSAL OR PREVENTION BY A FINANCIAL
INSTITUTION OF A TRANSACTION AUTHORIZED UNDER THIS CHAPTER
SHALL NOT CONSTITUTE THE WRONGFUL DISHONOR OF AN ITEM UNDER
13 PA.C.S. § 4402 (RELATING TO LIABILITY OF BANK TO CUSTOMER
FOR WRONGFUL DISHONOR; TIME OF DETERMINING INSUFFICIENCY OF
ACCOUNT).
(2) A REASONABLE BELIEF THAT PAYMENT OF A CHECK WILL
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FACILITATE THE FINANCIAL EXPLOITATION OF AN OLDER ADULT SHALL
CONSTITUTE REASONABLE GROUNDS TO DOUBT THE COLLECTABILITY OF
THE ITEM FOR PURPOSES OF 12 U.S.C. CHS. 41 (RELATING TO
EXPEDITED FUNDS AVAILABILITY) AND 50 (RELATING TO CHECK
TRUNCATION) AND 12 CFR PT. 229 (RELATING TO AVAILABILITY OF
FUNDS AND COLLECTION OF CHECKS (REGULATION CC)).
(C) SCOPE OF IMMUNITY.--THE IMMUNITIES AND DEFENSES PROVIDED
UNDER THIS SECTION APPLY TO A FINANCIAL INSTITUTION AND TO A
DIRECTOR, OFFICER, DESIGNATED REPRESENTATIVE, EMPLOYEE OR AGENT
OF A FINANCIAL INSTITUTION THAT DOES NOT WILLFULLY OR
INTENTIONALLY VIOLATE ANY REQUIREMENTS OF THIS ACT OR ENGAGE IN
THE WILLFUL OR INTENTIONAL FINANCIAL EXPLOITATION OF AN OLDER
ADULT.
SECTION 610. REPORTS.
NO LATER THAN THE NEXT DECEMBER 31 OCCURRING AT LEAST SIX
MONTHS FOLLOWING THE EFFECTIVE DATE OF THIS SECTION AND BY EACH
DECEMBER 31 THEREAFTER, THE DEPARTMENT SHALL PREPARE AND ISSUE A
REPORT THAT INCLUDES INFORMATION FOR THE PRIOR 12-MONTH PERIOD
REGARDING:
(1) THE NUMBER OF REPORTS MADE BY A FINANCIAL
INSTITUTION UNDER SECTION 603, INCLUDING:
(I) THE NUMBER OF OCCASIONS IN WHICH A FINANCIAL
INSTITUTION WAS CONTACTED AS PART OF AN INVESTIGATION OF
POTENTIAL FINANCIAL EXPLOITATION BY AN AREA AGENCY ON
AGING OR LAW ENFORCEMENT AGENCY RESULTING FROM A REPORT
MADE BY THE FINANCIAL INSTITUTION.
(II) THE AVERAGE TIME IN BETWEEN A FINANCIAL
INSTITUTION MAKING A REPORT UNDER SECTION 603 AND THE
FIRST CONTACT BY AN AREA AGENCY ON AGING OR LAW
ENFORCEMENT AGENCY.
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(2) THE TOTAL NUMBER, DOLLAR VALUE AND TYPES OF
TRANSACTIONS HELD BY A FINANCIAL INSTITUTION UNDER SECTION
605, INCLUDING:
(I) EACH CATEGORY OF TRANSACTIONS.
(II) THE NUMBER AND DOLLAR VALUE OF THE TRANSACTIONS
THAT WERE CONFIRMED AFTER INVESTIGATION TO REPRESENT
FINANCIAL EXPLOITATION OR ATTEMPTED FINANCIAL
EXPLOITATION.
(III) THE NUMBER AND DOLLAR VALUE OF THE
TRANSACTIONS THAT WERE CONFIRMED AFTER INVESTIGATION TO
NOT REPRESENT FINANCIAL EXPLOITATION OR ATTEMPTED
FINANCIAL EXPLOITATION.
(IV) THE NUMBER AND CATEGORIES OF TRANSACTIONS IN
WHICH AN EXTENSION WAS REQUESTED IN ACCORDANCE WITH
SECTION 605(B).
(V) THE NUMBER AND VALUE OF TRANSACTIONS THAT WERE
RELEASED IN SEVEN BUSINESS DAYS OR LESS.
SECTION 611. CULPABILITY.
A REFERENCE TO "INTENTIONALLY," "KNOWINGLY" OR "WILLFULLY" IN
THIS CHAPTER SHALL BE INTERPRETED IN A MANNER CONSISTENT WITH 18
PA.C.S. § 302 (RELATING TO GENERAL REQUIREMENTS OF CULPABILITY).
SECTION 612. USE OF ELECTRONIC RECORDS.
ANY PROVISION OF THIS CHAPTER REQUIRING A PERSON TO MAKE A
REPORT OR GIVE NOTICE TO ANOTHER PERSON MAY BE SATISFIED BY
USING AN ELECTRONIC RECORD IN THE MANNER AUTHORIZED BY SECTION
304 OF THE ACT OF DECEMBER 16, 1999 (P.L.971, NO.69), KNOWN AS
THE ELECTRONIC TRANSACTIONS ACT.
SECTION 2. THIS ACT SHALL TAKE EFFECT AS FOLLOWS:
(1) THE ADDITION OF SECTIONS 602(B), 603, 606, 608 AND
610 OF THE ACT SHALL TAKE EFFECT IN 180 DAYS.
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(2) THIS SECTION SHALL TAKE EFFECT IMMEDIATELY.
(3) THE REMAINDER OF THIS ACT SHALL TAKE EFFECT
IMMEDIATELY.
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