Elder Financial Abuse and State Mandatory Reporting Laws for Financial Institutions Prepared by CUNA s State Government Affairs Overview Financial crimes and exploitation can involve the illegal or improper use of a senior citizen's funds, property or assets, as well as fraud or identity theft perpetrated against older adults. While exact statistics on how often financial crimes against the elderly occur are not available, it is widely believed to be underreported by the victims. Like the past few years, financial crimes and exploitation of the elderly continues to be a topic in statehouses across the nation as lawmakers consider legislation to prevent these crimes from occurring. This legislation particularly interests credit unions when it includes provisions designed to protect against the illegal or improper use of assets or property owned by a senior citizen. During the 2012 legislative session, fourteen states enacted elder financial abuse legislation (Arizona, California, Colorado, Delaware, Illinois, Iowa, Maryland, Michigan, Missouri, Nebraska, Oregon, Vermont, Washington and West Virginia). Similarly, during the 2013 legislative session, eighteen states enacted some form of elder financial abuse legislation. These states include Alabama, Arizona, California, Colorado, Connecticut, Georgia, Hawaii, Illinois, Iowa, Maryland, Massachusetts, Minnesota, Montana, New York, North Carolina, North Dakota, Washington and Virginia. Twenty-eight states addressed financial exploitation of the elderly and vulnerable adults in the 2014 legislative session. Seventeen bills were enacted in Delaware, Florida, Illinois, Iowa, Maryland, Massachusetts, Missouri, New Hampshire, Rhode Island, South Carolina, Tennessee, Utah, Washington and West Virginia. A summary of the elder financial abuse state mandatory reporting laws for financial institutions can be found below. State Mandatory Reporting Laws for Financial Institutions Alabama: Financial institutions not specified as reporters Adult Protective Services Law: Ala. Code 38-9-1 through 38-9-11 Alaska: Financial institutions not specified as reporters APS Law: Alaska Stat. 47.24.010 through 47.24.900 Arizona:
Financial institutions not specified as reporters APS Law: Ariz. Rev. Stat. Ann. 46-451 through 46-459 Arkansas: APS Law: Ark. Code Ann. 12-12-1701 through 12-12-1721 California: APS Law: Cal. Welf. & Inst. Code 15600 through 15766 Colorado: Specifically lists financial institutions for mandatory reporting APS Law: Colo. Rev. Stat. Ann. 18-6.5-108; 26-3.1-101 through 26-3.1-208 Connecticut: APS Law: Conn. Gen. Stat. Ann. 17b-450 through 17b-461 Delaware: Specifically states any person has the duty to report; financial institutions must report within five days. APS Law: Del. Code Ann. tit. 31, 3901 through 3913 Florida:. APS Department must develop training for those listed as mandatory reporters. APS Law: Fla. Stat. Ann. 415.101 through 415.113 Georgia: APS Law: Ga Code Ann. 30-5-1 through 30-5-10 Hawaii: APS Law: Haw. Rev. Stat. 346-221 through 346-253 Financial Institutions: Haw. Rev. Stat. 412:3-114.5 Idaho: Specifically lists financial institutions for voluntary reporting
Training must be made available to financial institutions APS Law: Idaho Code 39-5301 through 39-5312 Illinois: Specifically list financial institutions for mandatory training APS Law: 320 Ill. Comp. Stat. 20/1 through 20/14 Indiana: Specifically states that any person has a general duty to report APS Law: Ind. Code Ann. 12-10-3-1 through 12-10-3-31 Iowa: Specifically lists financial institutions for voluntary reporting APS Law: Iowa Code Ann. 235B.1 through 235B.20 Kansas: Specifically lists officers of financial institutions as reporters APS Law: Kan. Stat. Ann. 39-1430 through 39-1443 Kentucky: APS Law: Ky. Rev. Stat. Ann. 209.005 through 209.195 Louisiana: APS Law: La. Rev. Stat. Ann. 15:1501 15:1511 Maine: APS Law: Me. Rev. Stat. Ann. tit. 22, 3470 through 3487 Maryland: Credit Unions listed as reporters APS Law: Md. Code Ann., Fam. Law 14-101 through 14-309; Md. Financial Institutions Code Ann. 1-101, 1-301, 1-306 Massachusetts:
APS Law: Mass. Gen. Laws Ann. ch. 19A, 14 through 26 Michigan: APS Law: Mich. Comp. Laws Ann. 400.11 through 400.11f Minnesota: Requires financial institution cooperation with officials investigating alleged abuse APS Law: Minn. Stat. Ann. 626.557 through 626.5572 Mississippi: APS Laws: Miss. Code Ann. 43-47-1 through 43-47-39 Missouri: Missouri League worked with the State on voluntary training program: http://www.dhss.mo.gov/mosafe/mosaferesourcemanual.pdf http://www.dhss.mo.gov/mosafe/# APS Law: Mo. Ann. Stat. 660.250 through 660.295 Montana: Specifically states voluntary reporting by any person APS Law: Mont. Code Ann. 52-3-801 through 52-3-825 Nebraska: APS Law: Neb. Rev. Stat. 28-348 through 28-387 Nevada: APS Law: Nev. Rev. Stat. Ann. 200.5091 through 200.50995 New Hampshire: APS Law: N.H. Rev. Stat. Ann. 161-F:42 through 161-F:57 New Jersey:
APS Law: N.J. Stat. Ann. 52:27D-406 through 52:27D-426 New Mexico: Civil immunity APS Law: N.M. Stat. Ann. 27-7-14 through 27-7-31 New York: Silent on reporting for financial institutions Civil immunity for voluntary reporting APS Law: N.Y. Soc. Serv. Law, Art. 9B, 473 North Carolina: Financial institutions have a duty to report APS Law: N.C. Gen. Stat. 108A-99 through 108A-111 (108A-115) North Dakota: Silent on reporting for financial institutions; but others may report Civil immunity for voluntary reporting APS Law: N.D. Cent. Code 50-25.2-01 through 50-25.2-14 Ohio: APS Law: Ohio Rev. Code Ann. 5101.60 through 5101.71 Oklahoma: APS Law: Okla. Stat. Ann. tit. 43A, 10-101 through 10-110 Oregon:. Legislation passed in 2012 and 2013 requires financial institutions to provide copies of financial records with an affidavit to law enforcement if a person is an alleged victim in an abuse investigation. APS Law: Or. Rev. Stat. 124.050 through 124.095 Pennsylvania: Specifically states any person as reporters APS Law: 6 Pa. Code 15.1 Through 15.161 Rhode Island: APS Law: R.I. Gen. Laws 42-66-4.1 through 42-66-17
South Carolina: APS Law: S.C. Code Ann. 43-35-5 through 43-35-350 South Dakota: Specifically lists any person for voluntary reporting APS Law: S.D. Codified Laws 22-46-1 through 22-46-11 Tennessee: APS Law: Tenn. Code Ann. 71-6-101 through 71-6-122 Texas: APS Law: Tex. Hum. Res. Code Ann. 48.001 through 48.408 Utah: APS Law: Utah Code Ann. 62A-3-301 through 62A-3-321 Vermont: APS Law: Vt. Stat. Ann. tit. 33, 6901 through 6941 Virginia: Specifically lists financial institutions for voluntary reporting APS Law: Va. Code Ann. 63.2-1603 through 63.2-1610 Washington: Specifically list financial institutions for mandatory training and as permissive reporters Civil Immunity for reporting APS Law: Wash. Rev. Code 74.34.005 through 74.34.902 West Virginia: APS Law: W. Va Code 9-6-1 through 9-6-16 Wisconsin: Financial institution not listed as reporters
APS Law: Wis. Stat. Ann. 46.90 Wyoming: APS Law: Wyo. Stat. Ann. 35-20-101 through 35-20-116