Rep. Joe Hogan (R-Bucks) today announced his legislation to increase protections for seniors from financial exploitation passed the House by a strong bipartisan vote.
House Bill 2064 authorizes the mandatory reporting and disclosure of essential records to state investigators. Additionally, financial institutions and fiduciaries would be able to temporarily delay transactions linked to suspected financial exploitation and engage in judicial proceedings to protect older adults.
House Bill 2064 would also authorize the sharing of information and records between financial institutions, fiduciaries and area agencies on aging. Like other voluntary reporters to protective services, financial institutions and fiduciaries would be immune from civil or criminal liability when exercising their discretion to report, share records, provide information to area agencies on aging and temporarily delay financial transactions.
“This is great news for older Pennsylvanians,” said Hogan. “When I held a hearing on the increase of scams and fraud in March of this year, we learned tens of thousands of dollars are lost every week in Bucks County to these types of criminal acts. This kind of legislation has been discussed for over a decade in Harrisburg but with no movement. I’m glad we were able to get this done and hopefully to the governor’s desk. Seniors hard-earned money is at stake.”
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