New law protects vulnerable citizens from financial exploitation and other abuse

SAN ANTONIO — A new state law seeks to protect our most vulnerable citizens from financial exploitation.

House Bill 3921 went into effect Sept. 1 and is already helping banks and credit unions stop financial exploitation and other forms of elder abuse.

"It's sad," said Rhonda Valdez. "It's hard to get to the bottom of it."

 Valdez is worried sick. She believes her 85-year old mother is a victim of elder abuse and she's not sure what to do about it.

"Some people can't afford an attorney," Valdez said. "It's expensive. What are you supposed to do?"

Bexar County has the second-highest number of suspected abuse cases in the state according to adult protective services.

Last year nearly 10,000 cases were reported, including instances of suspected abuse, neglect and financial exploitation.

"It could be your brother," Valdez said. "It could be your sister."

"We work closely with financial institutions to be able to provide us some of that background information so we can explore it further," said Ann Cortez, district director of adult protective services.

A new state law requires financial institutions to report suspected financial exploitation within five business days.

"Well I think that's great it's about time somebody's got to stand up for them," Valdez said.

"One of the red flags is the customer looks as though they're frightened, or they look as though they're being coerced to pull money out," said Estrellita Garcia-Diaz of Jefferson Bank.

Jefferson Bank already reported suspicious activity internally.

"Changes in their spending habits," Garcia-Diaz said. "You can see that they're drawing more cash out on a more frequent basis or sometimes the checks presented for payment show a different signature."

The new law provides oversight from the state and allows financial institutions to help launch investigations into suspected abuse at home.

"Just those things are a hint as to what could be going on behind closed doors," Garcia-Diaz said.
If you suspect a loved one has become a victim of abuse exploitation or neglect you can connect with Adult Protective Services using their 24-hour hotline, 1 (800) 252-5400.

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New law protects vulnerable citizens from financial exploitation and other abuse

Cornyn, Klobuchar Bill to Protect Seniors from Financial Exploitation Passes Senate

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Court-Appointed Guardian Accountability and Senior Protection Act would help crack down on elder abuse by strengthening oversight and accountability for guardians and conservators

WASHINGTON – Today U.S. Senators John Cornyn (R-TX) and Amy Klobuchar (D-MN) announced that their bipartisan legislation to protect seniors from neglect and financial exploitation has passed the Senate. The Court-Appointed Guardian Accountability and Senior Protection Act would help crack down on elder abuse by strengthening oversight and accountability for guardians and conservators.

 

“This bill strengthens support for our nation’s senior citizens by ensuring they get the court-appointed care they need, while also protecting them from exploitation and fraud,” said Sen. Cornyn.  “I’m proud to join Sen. Klobuchar in standing up for enhanced oversight to ensure this critical program helps, not harms, America’s senior citizens.”

 

“While most court-appointed guardians and conservators are undoubtedly professional, caring, and law-abiding, there are some who use their position of power to exploit seniors,” Senator Klobuchar said. “This bipartisan legislation would strengthen oversight and accountability for those entrusted to with the well-being of seniors, and will protect those who are most vulnerable.” 

 

Cornyn and Klobuchar’s bipartisan legislation passed as part of the Elder Abuse Prevention and Prosecution Act. The Court-Appointed Guardian Accountability and Senior Protection Act makes courts eligible for an already existing program designed to protect seniors. Under the program, state courts would be able to apply for funding to assess the handling of proceedings relating to guardians and conservators, and then make the necessary improvements to their practices. For example, the courts could conduct background checks on potential guardians and conservators, or implement an electronic filing system in order to better monitor and audit conservatorships and guardianships.

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Cornyn, Klobuchar Bill to Protect Seniors from Financial Exploitation Passes Senate