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Committee introduces RS32195 Change 1 to let banks place holds on suspected elder fraud
Summary
The House Business Committee voted to introduce RS32195 Change 1, a proposal to give financial institutions temporary authority to place holds and investigate transactions they reasonably suspect are fraudulent for people aged 65 and older and vulnerable adults.
Representative Jeff Ehlers, R‑21 (Meridian), described RS32195 Change 1 as a tool for financial institutions to help prevent fraud against senior citizens and vulnerable adults.
“This RS relates to preventing financial fraud among senior citizens aged 65 and older and vulnerable adults,” Ehlers said. “It gives a tool to our financial…
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