SCS/SB 99 - This act allows any bank, as that term is defined in the act, and any credit union to report suspected fraudulent activity or financial exploitation targeting any of its customers to a federal, state, county, or municipal law enforcement agency or any appropriate public protective agency and shall be immune from civil liability in doing so.Banks and credit unions are additionally allowed to offer a trusted contact program to its customers who desire to designate one or more trusted contacts for the bank to contact under certain circumstances delineated in the act. The trusted contact program is subject to restrictions as described in the act.
A bank or credit union shall not be liable for the actions of a trusted contact and shall not be civilly liable for implementing or not implementing a trusted contact program or for actions or omissions related to providing or administering a trusted contact program.
A person designated as a trusted contact who acts in good faith and exercises reasonable care shall be immune from liability.
Part of this act is identical to HB 1049 (2025).
SCOTT SVAGERA
Statutes affected: Introduced (0687S.01):
362.424Committee (0687S.02):
362.424,
370.245
Senate Committee Minutes: SENATE COMMITTEE MINUTES Bill No.: SB 99
Sponsor: Crawford
Hearing Date: 2/4/2025
COMMITTEE: Insurance and Banking
CHAIRMAN: Crawford
DATE REFERRED: 1/23/2025 DATE HEARING REQUESTED: 1/24/2025
STAFF:
Barbara Mustoe
Scott Svagera
Eric Vander Weerd
WITNESSES GIVING INFORMATION:
WITNESSES FOR:
Emily Lewis - Missouri Bankers Association
Ray Bozarth - Missouri Credit Union Association
WITNESSES AGAINST: