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Committee introduces measure to let banks temporarily hold suspected transactions involving seniors
Summary
The House Business Committee introduced RS32195 change 1 on Feb. 7, a proposal by Rep. Jeff Ehlers that would allow financial institutions to place temporary holds and investigate suspected fraud involving people 65 and older and vulnerable adults.
Representative Jeff Ehlers, R‑Meridian, told the House Business Committee on Feb. 7 that RS32195 change 1 would give financial institutions an explicit, statutory tool to respond when they suspect a transaction is exploitative of a person aged 65 or older or a vulnerable adult.
"This RS relates to, preventing financial fraud among senior citizens aged 65 and older and vulnerable adults. It…
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