House Panel Passes Bill Protecting Elder Abuse Reporters

The House Financial Services Committee unanimously passed a bill today creating a safe harbor for financial institutions and their employees who report suspected elder financial abuse to authorities. The safe harbor would protect financial professionals who have received relevant training from civil and administrative actions so long as the reports of abuse were made in good faith and with reasonable care. The bill would provide similar protection for institutions.

To help banks work with seniors and their caregivers to fight fraud and scams, the ABA Foundation offers a Safe Banking for Seniors program, which includes sample lessons and activities, communication tools and promotional materials.