Bill
H 296
Overview: H 296, An Act protecting vulnerable adults from financial exploitation, hearing scheduled for 09/09/2025, introduced on February 21, 2025.Purpose and Intent: The goal of
Overview: H 296, An Act protecting vulnerable adults from financial exploitation, hearing scheduled for 09/09/2025, introduced on February 21, 2025.
Purpose and Intent: The goal of this legislation is to enhance protections for vulnerable adults against financial exploitation and abuse. It aims to give authorities more tools to identify, investigate, and prosecute such crimes.
Key Provisions:
- Expands the definition of "vulnerable adult" to include individuals with diminished mental capacity or physical disabilities
- Requires financial institutions to report suspected financial exploitation to state adult protective services
- Grants adult protective services the authority to freeze assets and accounts to prevent immediate harm
- Increases criminal penalties for perpetrators convicted of financially exploiting vulnerable adults
Affected Parties and Impacts:
- Vulnerable adults, including the elderly and those with disabilities, will benefit from stronger safeguards
- Financial institutions will have new legal obligations to monitor and report suspected exploitation
- Adult protective services will take on additional investigative and enforcement responsibilities
Procedural and Timeline Considerations:
A public hearing on the bill is scheduled for September 9, 2025. If passed, the new protections would take effect 60 days after the governor's signature.
Compiled from official sources — confirm details with the bill’s official record.
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