ON APRIL 22, 2024, THE HOUSE ADOPTED AMENDMENT #2 AND PASSED HOUSE BILL 1248, AS AMENDED.
AMENDMENT #2 rewrites the bill as follows:
(1) Authorizes a financial service provider, or an officer or employee of the financial service provider, that has reasonable cause to suspect that an elderly or vulnerable adult is the victim or target of financial exploitation, to convey the suspicion to the TBI's elder financial reporting mechanism;
(2) Requires a financial service provider, who is authorized to offer to an elderly or vulnerable adult the option to keep a list of persons for the provider to contact if the person is a victim or target of financial exploitation, to provide information to aid in the investigation of suspected elder financial exploitation;
(3) Authorizes, under the Financial Records Privacy Act, the furnishing by a financial institution of access to, or copies of, records that are relevant to suspected, actual, or attempted financial exploitation, to the TBI, if a report is made. The records provided pursuant to this (3) must be limited to records relating to the most recent transaction or transactions that may comprise financial exploitation not to exceed 30 calendar days prior to the first suspected financial exploitation transaction or 30 calendar days after the last suspected financial exploitation transaction;
(4) By no later than October 1, 2024, requires the TBI to create an elder financial exploitation reporting mechanism that accepts reports from financial institutions;
(5) Upon receiving a report of suspected elder financial exploitation, requires the TBI to coordinate with the district attorney general in the appropriate judicial district and, when appropriate, with other law enforcement agencies and adult protective services for additional investigation of the reported exploitation. The TBI may share appropriate information with the district attorney general, other law enforcement agencies, and adult protective services to aid in the investigation of the reported exploitation; and
(6) Establishes that (1)-(3) above take effect October 1, 2024.

Statutes affected:
Introduced: 71-6-122
Amended with HA1067 -- 04/22/2024: 71-6-122, 45-2-1204(b), 45-2-1204, 45-2-1204(c), 45-10-103