New law aims to keep wolf out of granny’s bank account

If an elderly customer’s bank account dwindles from ATM withdrawals and check signatures, tellers will not remain silent.

They may ask to speak to the customer privately. They may warn about the danger of carrying, wiring or withdrawing large amounts of cash. And they may delay the transaction until they can consult a supervisor.

Employees of bank, savings and loan associations, and credit unions will be required to report known and suspected financial abuse of elderly customers under a new law taking effect Jan. 1.

Full Story on the Santa Cruz Sentinel website

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