SB369: Revises provisions relating to financial institutions. (BDR 55-225)

Legislative Summary

AN ACT relating to financial institutions; requiring certain financial institutions, credit unions, savings banks and thrift companies to take certain actions relating to the use of an emergency financial contact for certain accounts and transactions which involve an older person or vulnerable person; authorizing certain persons to temporarily delay certain financial transactions involving the suspected exploitation of an older person or vulnerable person; exempting certain persons from liability for certain actions relating to the suspected exploitation of an older person or vulnerable person; creating a civil cause of action to recover damages for certain violations of certain requirements relating to the use of an emergency financial contact which result in exploitation of an older person or vulnerable person; and providing other matters properly relating thereto.