Pennsylvania SB 738: An Act amending the act of November 6, 1987 (P.L.381, No.79), known as the Older Adults Protective Services Act, providing for prevention of financial exploitation.

Bill Text

PRIOR PRINTER'S NO. 763 PRINTER'S NO. 1867
THE GENERAL ASSEMBLY OF PENNSYLVANIA
SENATE BILL
No. 738
Session of
2025
INTRODUCED BY GEBHARD, STREET, FONTANA, BROWN, BOSCOLA,
BARTOLOTTA, TARTAGLIONE, ROBINSON, BAKER, HAYWOOD, LAUGHLIN,
STEFANO, KEARNEY, COSTA, PENNYCUICK, VOGEL, COLLETT, CULVER,
KANE, ARGALL, MALONE, MILLER AND FARRY, MAY 12, 2025
SENATOR GEBHARD, BANKING AND INSURANCE, AS AMENDED,
JUNE 30, 2026
AN ACT
Amending the act of November 6, 1987 (P.L.381, No.79), entitled
"An act relating to the protection of the abused, neglected,
exploited or abandoned elderly; establishing a uniform
Statewide reporting and investigative system for suspected
abuse, neglect, exploitation or abandonment of the elderly;
providing protective services; providing for funding; and
making repeals," providing for financial institutions;
imposing duties on the Department of Aging and the Department
of Banking and Securities; and imposing penalties.
Amending the act of November 6, 1987 (P.L.381, No.79), entitled
"An act relating to the protection of the abused, neglected,
exploited or abandoned elderly; establishing a uniform
Statewide reporting and investigative system for suspected
abuse, neglect, exploitation or abandonment of the elderly;
providing protective services; providing for funding; and
making repeals," providing for prevention of financial
exploitation.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. The act of November 6, 1987 (P.L.381, No.79),
known as the Older Adults Protective Services Act, is amended by
adding a chapter to read:
CHAPTER 6
FINANCIAL INSTITUTIONS
<--
<--
<--
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

Section 601. Definitions.
The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Account of the older adult." An account held by a financial
institution in which the older adult is a beneficiary or has a
beneficial interest.
"Designated representative." An individual who is:
(1) designated by a financial institution as the
individual responsible for providing information to an area
agency on aging, the department or a law enforcement agency
regarding the suspected financial exploitation of older
adults; and
(2) provided immunity from suit under 12 U.S.C. § 3423
(relating to immunity from suit for disclosure of financial
exploitation of senior citizens) for disclosing the suspected
financial exploitation of older adults.
"Financial exploitation." As defined in 18 Pa.C.S. § 3922.1
(relating to financial exploitation of an older adult or care-
dependent person).
"Financial institution." Any of the following conducting
business in this Commonwealth:
(1) A depository institution as defined in 12 U.S.C. §
1813(c) (relating to definitions).
(2) A Federal credit union or State credit union as
defined in 12 U.S.C. § 1752 (relating to definitions),
including an institution-affiliated party of a credit union
as defined in 12 U.S.C. § 1786(r) (relating to termination of
insured credit union status; cease and desist orders; removal
or suspension from office; procedure).
20250SB0738PN1867 - 2 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

(3) A financial institution under 31 CFR Pt. 1020
(relating to rules for banks) that is required to file a
suspicious activity report.
(4) A person subject to supervision by the Department of
Banking and Securities or comparable Federal or State bank
supervisory or regulatory authority.
"Financial institution employee." An employee of a financial
institution who has:
(1) direct contact with an older adult; or
(2) access to or direct knowledge of an account of the
older adult, or other financial records of the older adult,
with the financial institution.
"Good faith." As defined under 13 Pa.C.S. § 5102 (relating
to definitions).
"Law enforcement agency." Any of the following:
(1) The Office of Attorney General.
(2) A county district attorney's office.
(3) An agency that employs a law enforcement officer.
"Law enforcement officer." Any of the following:
(1) A member of the Pennsylvania State Police.
(2) An individual employed as a police officer who holds
a current certificate under 53 Pa.C.S. Ch. 21 Subch. D
(relating to municipal police education and training).
(3) A sheriff or deputy sheriff.
"Person who is authorized to have access to the account of
the older adult." The term includes:
(1) An authorized contact provided by an older adult to
a financial institution, authorized signatory or beneficiary
on the account of the older adult.
(2) A fiduciary authorized to manage some or all of the
20250SB0738PN1867 - 3 -
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

financial affairs of the older adult.
(3) A co-owner of an account or other person authorized
to transact business of an account of the older adult.
(4) An attorney or financia