Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Georgia bill would let banks place short fraud holds for seniors, set crypto-kiosk limits and tighten litigation-finance registration
Summary
House Bill 945, presented to the Rules Committee, would allow trained financial institutions to place holds of up to 15 days on suspicious transactions for customers 65 and older, require trusted-contact options, impose first-transaction limits and disclosures at cryptocurrency kiosks, and require annual registration for litigation financers.
Unidentified Speaker 4, the author of House Bill 945, told the Rules Committee the measure is the Department of Banking and Finance’s annual housekeeping bill and highlighted three consumer protections.
The bill would allow institutions trained to spot financial fraud to “place a transaction hold of up to 15 days” on accounts of customers 65 and older when there are sufficient suspicions of exploitation, the author said. The proposal also authorizes banks and other regulated entities to request that senior customers name a trusted contact for use if exploitation is…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
