The proposed bill establishes a commission in Massachusetts tasked with studying and drafting policies to combat financial abuse of elders. The commission will consist of various members, including three representatives from the Massachusetts House of Representatives, three from the Senate, two attorneys specializing in elder law, a representative from an advocacy group for the elder population, two representatives from Councils on Aging or protective services organizations, and representatives from the real estate and financial services industries, including the Massachusetts Bankers Association and the Cooperative Credit Union Association.

The commission's focus will include examining the economic impact of financial abuse on individuals over 60, analyzing lending practices targeting this demographic, investigating exploitative property transfers, and identifying fraudulent schemes aimed at the elderly. The commission is required to file a report with policy recommendations to prevent or better protect elders from financial abuse by December 31, 2026, to the clerks of both legislative chambers and the chairmen of relevant joint committees.