Bill > HB1640

This bill requires financial institutions to develop policies and train employees to identify and report "covered financial exploitation," which is defined as financial exploitation of an individual through deception, manipulation, coercion, intimidation, or improper leveraging of a caregiver relationship, especially concerning "vulnerable adults" (adults unable to protect themselves due to impairment or age). These policies must include procedures for delaying or freezing transactions and assets when exploitation is suspected, with specific timeframes for these actions and provisions for extending them if law enforcement is investigating. The bill also grants financial institutions immunity from liability for actions taken in good faith under these policies and prohibits private lawsuits against them. It clarifies that this law does not limit the responsibilities of law enforcement or other agencies and allows any person to report suspected exploitation.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=HB&billnumber=1640&year=2026