The Protect Our Parents Act aims to prevent financial exploitation and fraud against vulnerable adults by enacting several new sections in the Ohio Revised Code. Key definitions are introduced, including "eligible adult," which refers to individuals aged sixty or older or those eligible for protective services. The bill outlines the responsibilities of depository institutions when they suspect financial exploitation, including the ability to place holds on transactions and the requirement to report such holds to relevant authorities. It also establishes the concept of a "trusted contact," who can be notified about potential exploitation concerns.

Additionally, the bill provides immunity from civil or administrative liability for individuals who report suspected financial exploitation in good faith. It mandates that depository institutions maintain records of transactional holds for at least five years and requires employee training on recognizing and addressing financial exploitation. The act also includes provisions for handling cases involving unascertainable persons, ensuring that protective measures are in place to safeguard vulnerable adults from fraudulent activities.