(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Senior Safe Act of 2017
(Sec. 2) This bill extends immunity from liability to certain individuals who, in good faith and with reasonable care, disclose the suspected exploitation of a senior citizen to a regulatory or law-enforcement agency. Specifically, this immunity shall apply to certain credit-union, depository-institution, investment-adviser, broker-dealer, transfer-agency, insurance-company, and insurance-agency employees who have received specified training related to identifying and reporting the suspected exploitation of a senior citizen. Similarly, the employing financial institution shall not be liable with respect to disclosures made by such employees.
(Sec. 3) The bill allows financial institutions and third-party entities to offer training related to the suspected financial exploitation of a senior citizen to specified employees. The bill provides guidance regarding the content, timing, and record-maintenance requirements of such training.
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