Missouri lawmakers send governor financial exploitation measure to protect seniors

JEFFERSON CITY, Missouri — Financial professionals who suspect an older Missouri resident or person with a disability is the target of financial fraud would have broader authority under a measure headed to the governor.

The Missouri Senate voted 33-1 Wednesday on a measure that supporters say will give latitude to financial advisers to protect seniors from financial exploitation.

The bill would provide legal protections for financial advisers who put a hold on transactions they deem suspicious for a limited time.

The hold would be allowed for only people over 60 or those with disabilities.

The financial professional would have to inform a relative, attorney or the authorities about the potential fraud.
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The financial fraud bill is SB 244.
 
Online:
Senate: http://www.senate.mo.gov

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Missouri lawmakers send governor financial exploitation measure to protect seniors