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Committee approves bill allowing banks to delay or refuse suspicious transactions to protect eligible adults
Summary
The committee voted to report Committee Substitute for Senate Bill 848 to the full Senate with a recommendation that it pass.
The committee voted to report Committee Substitute for Senate Bill 848 to the full Senate with a recommendation that it pass.
Counsel explained that the substitute adds a new article to state code to provide banking protections for eligible adults suspected to be victims of financial exploitation. Under the substitute, depository institutions, broker-dealers, and investment advisers may delay, refuse or prevent certain financial transactions if they suspect financial…
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