Para enmendar los Artículos 4 y 8 de la Ley 121-2019, según enmendada, conocida como “Carta de Derechos y Política Pública del Gobierno a Favor de los Adultos Mayores”, a los fines de establecer el uso obligatorio de un formulario de consentimiento informado en contratos o acuerdos financieros de largo plazo que involucren a personas mayores de sesenta (60) años, establecer penalidades por su incumplimiento; y para otros fines relacionados.

2025-2028 Session

Requires mandatory informed-consent forms for long-term financial contracts with adults 60+, with penalties for noncompliance to protect seniors in financial deals.

Referido a Comisión(es)

Overview

PS 814 seeks to amend Articles 4 and 8 of Law 121-2019, as amended, known as the “Carta de Derechos y Política Pública del Gobierno a Favor de los Adultos Mayores.” The core intent is to establish the mandatory use of an informed consent form in long-term financial contracts or agreements that involve individuals over 60 years of age, and to establish penalties for noncompliance. The bill also contemplates other related purposes.

Purpose and Intent

Enhance protections for older adults (60+) in the context of long-term financial arrangements.

Ensure that seniors are informed and knowingly consent to terms in durable financial contracts.

Create penalties to deter and address violations of the informed-consent requirement.

Align financial contracting practices with the government’s public-policy framework for older adults.

Key Provisions (as described)

Mandatory use of an informed consent form for long-term financial contracts or agreements involving persons aged 60 and older.

Establishment of penalties for noncompliance with the informed-consent requirement.

Provisions are to be implemented within the framework of the current law (Law 121-2019) through amendments to Articles 4 and 8.

“Other related purposes” unspecified in the summary may indicate additional regulatory or enforcement mechanisms to support the new requirement.

Affected Parties and Sectors

Primary beneficiaries: adults aged 60 and older.

Financial sector actors likely impacted (to the extent they engage in long-term financial contracts with seniors): lenders, financial institutions, brokers, and any entities facilitating such agreements.

Government and regulatory bodies responsible for enforcement and compliance may be involved, though specific agencies are not named in the summary.

Procedural and Timeline Aspects

Introduced: October 16, 2025.

Legislative actions so far:

October 16, 2025: Radicado (filed).
October 20, 2025: Appears in the First Reading in the Senate.
October 20, 2025: Referred to Comissão(es) (committees) for review.

Status: Referido a Comisión(es) (in committee). No floor passage date has been set in the available information.

Potential Impact and Considerations

Compliance and Administrative Burden: Financial institutions may need to adopt standardized informed-consent forms and ensure processes for presenting and obtaining consent from older customers.

Consumer Protection: Aimed at reducing risk of exploitative or uninformed long-term financial commitments for seniors.

Clarity and Implementation: The bill’s text would define what constitutes a long-term contract, the specific content required in the consent form, and the penalties—details not provided in the summary.

Timing of Implementation: Enactment would depend on committee action, potential amendments, and floor votes in the Senate (and corresponding House actions, if applicable).

Next Steps

Committee review: Analysis of the detailed language, definitions (e.g., “long-term,” “informed consent form”), and penalty structure.

Potential amendments: Clarifications on enforcement, applicability across different financial products, and transition timelines.

Legislative action: Movement toward a floor vote and potential adoption or modification.

Note: The summary reflects the information provided and does not include text-specific details not present in the available materials.

Bill

PS 814 — Summary