This bill amends sections 8-2901 and 8-2903 of the Reissue Revised Statutes of Nebraska to enhance protections against the financial exploitation of vulnerable or senior adults. It introduces the definition of "authorized contact," which refers to an adult designated by a vulnerable or senior adult to be contacted by a financial institution in cases of emergency or suspected financial exploitation. The bill also clarifies the definition of financial exploitation and expands the responsibilities of financial institutions when they suspect such exploitation may be occurring.

Additionally, the bill provides financial institutions with the authority to delay or refuse transactions involving vulnerable or senior adults if there is reasonable belief of financial exploitation. It establishes immunity for financial institutions and their employees from civil, criminal, or administrative liability for actions taken in good faith under these provisions. New protections are also included for authorized contacts and stipulations regarding the refusal to engage with them if there are concerns about their involvement in exploitation. The original sections of the law being amended are repealed as part of this legislative update.

Statutes affected:
Introduced: 8-2901, 8-2903