Thirty states are considering new laws to heighten senior financial
protection, according to a list compiled by National Conference of State
Legislatures financial services analyst Heather Morton.
Morton said the list was current as of April 7. Many of the bills mandate that financial advisors, banks and medical workers report elder financial abuse to authorities when they suspect it. Much of the legislation raises the penalties for financial crimes against the elderly.
New York is considering a bill that would allow bank workers to refuse a payment request from a senior when they think the person is being exploited. Washington state has had a similar law since 2010 and Delaware Governor Jack Markell gave banks in his state that power last year. Another New York bill would set up a toll-free elder abuse hotline.
States with anti-senior fraud legislation pending listed by Morton are:
Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Iowa, Illinois, Indiana, Kansas, Massachusetts, Maryland, Maine, Minnesota, Missouri, North Carolina, North Dakota, New Jersey, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont and Washington.
Morton said the list was current as of April 7. Many of the bills mandate that financial advisors, banks and medical workers report elder financial abuse to authorities when they suspect it. Much of the legislation raises the penalties for financial crimes against the elderly.
New York is considering a bill that would allow bank workers to refuse a payment request from a senior when they think the person is being exploited. Washington state has had a similar law since 2010 and Delaware Governor Jack Markell gave banks in his state that power last year. Another New York bill would set up a toll-free elder abuse hotline.
States with anti-senior fraud legislation pending listed by Morton are:
Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Hawaii, Iowa, Illinois, Indiana, Kansas, Massachusetts, Maryland, Maine, Minnesota, Missouri, North Carolina, North Dakota, New Jersey, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia, Vermont and Washington.
Full Article & Source:
30 States Considering Laws To Fight Senior Financial Abuse
5 comments:
So any stranger in a bank,any medical worker financial adviser will now be able to identify who has money and assets. The geniuses will then decide who is being abused and call a hotline straight to a government agency they will look iinto the persons accounts and take over in the persons "best interest " of course. Do these bank people,medical workers ,financial advisers get a finder ''s fee for this ?
Fighting senior financial abuse is important, but they're going too far: "New York is considering a bill that would allow bank workers to refuse a payment request from a senior when they think the person is being exploited."
This is smoke and mirrors. Whosex best interests xwill this be in ? These will be like whistleblowers that do not get in trouble. They will whistle straight to the wonderful agencies who will take you to court and who will guardianize you and your money to protect you . You will get medicated. Isolated, liquidated of everything that is yours ,your loved ones will be thrown away because it will be the big arm of the law doing this to you. And that arm has attorneys, judges, govt agencies, medical people, nursing homes ,hospitals all on their side. And you will be less than nothing all for your "best interest"
"30 STATES REQUEST MINIMUM 15 MINUTE RESPONDENT INPUT AS CLOSING ARGUMENT ON WHETHER THEY FEEL THEIR CURRENT, EXTREMELY DETAILED, STATE LEGAL STATUTES REGARDING CONSERVATORSHIP WERE/ARE BEING ADHERED TO DURING AND CONCLUDING THE PETITION HEARING. VIDEO TAPING AND VIDEO ARCHIVE MANDATORY TO INCLUDE MERITS OF PETITIONER(S) AND MERITS OF RESPONDENT(S) PRESENTED DURING HEARING. RULING ISSUED TO BE BASED ON ADHERENCE TO STATUTES."
It's not surprising that Arizona is not on the list. The guardianship industry here is a well oiled and very lucrative machine.
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