Credit: Felix Pergande/Adobe Stock Va. Lawmakers Strengthen Banking Safeguards to Protect Seniors From Financial Exploitation
The bill specifies that no financial institution staff member who receives the training will be liable in any civil or administrative proceeding for disclosing the suspected financial exploitation of an elderly or vulnerable adult if disclosure was made in good faith and with reasonable care.
March 01, 2024 at 02:10 PM
5 minute read
Banking and Finance Laws
The niece of a late Navy commander is applauding Virginia lawmakers for passing a bill aimed at putting additional safeguards in place to protect seniors from financial exploitation as she appeals the dismissal of a suit seeking to hold banks accountable for transferring $3.68 million from her uncle's accounts as part of alleged scams.
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