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Bill

A 1832

Requires financial institutions to release records to adult protective services when suspecting fraud of vulnerable adult or senior customer; allows adult protective service to release same records to law enforcement agency if necessary.

2024-2025 Regular Session Introduced by Aura Dunn and 1 co-sponsor

Requires financial institutions to report suspected fraud targeting vulnerable adults to protective services, which may share records with law enforcement for investigations.

Introduced in the Assembly, Referred to Assembly Financial Institutions and Insurance Committee
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Bill Summary · A 1832

Legislative bill overview

Bill A 1832 mandates that financial institutions report suspected fraud targeting vulnerable adults and seniors to adult protective services (APS). It further permits APS to share these financial records with law enforcement when necessary for investigation purposes. The bill streamlines information-sharing protocols between financial, social services, and law enforcement sectors.

Why is this important

Elder financial abuse is a growing problem affecting vulnerable populations, with victims often losing significant assets. Currently, financial institutions may lack clear legal authority or obligation to share customer information with protective services, creating gaps in fraud detection and prevention. This bill removes barriers to information-sharing that could enable faster intervention and prosecution of perpetrators.

Potential points of contention

  • Privacy concerns: Requires careful balance between protecting vulnerable adults and maintaining customer privacy rights; the threshold for "suspecting" fraud may be ambiguous
  • Liability and compliance burden: Financial institutions may face unclear requirements about when/how to report, potentially increasing costs and creating legal exposure if they report incorrectly
  • Data security and scope: Releasing financial records to multiple agencies increases data handling complexity; the bill should clarify what records qualify and how long APS/law enforcement can retain them

Compiled from official sources — confirm details with the bill’s official record.

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