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2019 Senate Bill 464: Authorize more financial abuse safeguards in financial institutions
Introduced by Sen. Peter Lucido (R) on August 28, 2019
To require financial institutions to adopt various procedures, protocols, staff training, reports and more intended to reveal and prevent financial exploitation of individuals. The bill also prescribes the responses that law enforcement or other relevant agencies must adopt for responding to reports of financial exploitation. Among other things bank and financial institutions would have the authority to delay the disbursement of funds or freeze accounts in some cases, subject to procedures and limits specified in the bill.   Official Text and Analysis.
Referred to the Senate Insurance and Banking Committee on August 28, 2019
Reported in the Senate on December 3, 2020
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Received in the House on December 10, 2020
Referred to the House Judiciary Committee on December 10, 2020
Reported in the House on December 15, 2020
Without amendment and with the recommendation that the bill pass.

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