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SB 1018: Mandatory Reporting of Financial Abuse (2005)

Summary

SB 1018 helps prevent elder financial abuse by mandating that financial institutions, at the frontline of witnessing financial abuse, report financial abuse. 
What the bill does:

  • Requires bank, savings and loan, and credit union employees to report financial abuses if the abuse becomes evident in their contacts with, or review of, an elder and/or dependent adult’s financial matters. 
  • Grants immunity to credit union and bank tellers during their first six months of employment if they have not been trained to identify and report elder and dependent adult financial abuse. 
  • Requires more than mere allegations of financial abuse before imposing an obligation to report.  Mandated reporters would be required to report only when both reasonable belief and corroborating evidence indicate abuse exists.  Reporters are not required to conduct independent investigations. 
  • Ensures efficient investigation and data collection by directing reports to adult protective services agency or law enforcement agency. 
  • Grants civil and criminal immunity to reporters reporting in good faith.
  • Grants civil and criminal immunity to reporters providing information to adult protective services and law enforcement agencies. 
  • Allows reimbursement of court and attorney fees should an unmerited action be brought against a mandated reporter.

Final Status and Text

SB 1018 is no longer active. Its final status was:
Signed into Law

You can read its final text on the Legislature's Bill Information site.

News & Press Releases about SB 1018

05/25/2012 - Seniors Honor Simitian for Financial Abuse Protections

01/12/2011 - SB 33: Financial Elder Abuse Sunset Elimination

12/27/2007 - Mandatory reporting law protects the vulnerable

12/30/2006 - New law aims to keep wolf out of granny's bank account

12/28/2006 - New Year Will See New Protections for Seniors

11/17/2005 - Simitian Scores 100% with Seniors

08/29/2005 - Governor Signs Simitian Bill to Protect Elders Against Financial Abuse

07/13/2005 - Bill to Protect Elders Against Financial Abuse is Closer to Becoming Law

06/01/2005 - MEDIA ADVISORY: News Conference About Elder Abuse Protections

05/26/2005 - Elder Abuse Protections Pass in State Senate