This bill aims to enhance the protection of financial institutions and their employees when they suspect financial exploitation of consenting, senior, or vulnerable adults. It introduces new definitions for key terms such as "consenting adult," "financial exploitation," "financial institution," "senior adult," and "vulnerable adult." The bill allows financial institutions to delay or refuse transactions if they reasonably believe that financial exploitation may have occurred or is occurring. Additionally, it grants institutions the discretion to notify third parties associated with the adult if exploitation is suspected, while also providing immunity from civil, criminal, or administrative liability for actions taken in accordance with the new provisions.

Furthermore, the bill establishes a time limit for the authority granted to financial institutions to act under these provisions, which expires after thirty business days unless extended by a reasonable belief that exploitation may continue. It clarifies that the refusal to engage in transactions under this chapter does not constitute wrongful dishonor of an item. Overall, the legislation seeks to empower financial institutions to take proactive measures in safeguarding vulnerable adults from financial exploitation while providing them with legal protections.