Bill > AB871

This bill expands the requirements for mandated reporters, specifically those working at financial institutions, to report suspected financial abuse of elders or dependent adults. It mandates that in addition to reporting to local adult protective services or law enforcement, these reporters must also file a report with the Federal Bureau of Investigation's Internet Crime Complaint Center (IC3) within two working days of suspecting abuse. Furthermore, financial institutions are now required to provide annual training to their employees who are mandated reporters, covering how to escalate suspected abuse internally and report it to both local and federal authorities, including the IC3 and the Federal Trade Commission. The bill also introduces a new requirement for financial institutions to immediately share information about reporting mechanisms with clients upon discovering potential financial abuse and to encourage those clients to submit complaints within 24 to 48 hours, with a specific provision that violations of this information-sharing requirement will not result in the previously outlined civil penalties.

Budget and Finance, Justice

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB871