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Banking committee advances bill letting participating banks pause suspicious transactions to protect seniors
Summary
The banking committee on Wednesday passed House Bill 945, a wide-ranging banking code cleanup that would let financial institutions that opt in temporarily hold transactions when they reasonably suspect financial exploitation of an elderly or disabled adult, add oversight of litigation financiers and impose guardrails on virtual‑currency kiosks.
House Bill 945, presented to the Banking Committee by Representative Wilson and agency counsel Amy Patterson, was approved unanimously after committee discussion.
The sponsor described the measure as a routine cleanup for the Georgia Department of Banking and Finance and said it carries an amendment focused on protecting seniors. "It is a housekeeping bill," Representative Wilson said as he introduced the measure and the department staff.
Amy Patterson, deputy commissioner for legal affairs at the Department of Banking and Finance, explained the bill's most substantive consumer protection: an opt‑in authority for depository institutions and credit unions to temporarily pause suspicious transactions…
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