SACRAMENTO – Legislation advanced today from Sen. Bill Dodd, D-Napa, that would strengthen elder and dependent adult financial abuse protections by clarifying the duties of banks and financial institutions to safeguard against fraud.
“Unfortunately, our current financial elder abuse statute is not as clear as it should be on what steps a bank or credit union should take to protect against senior scams,” Sen. Dodd said. “My bill will help protect seniors by enacting a comprehensive, up-front scam prevention policy for California banks and credit unions.”