South Carolina · S. 851
Lets banks pause suspicious transactions for older adults
Lets banks, credit unions, and other financial companies pause or refuse money transfers they reasonably believe may be financial exploitation of adults age 55 and older or vulnerable adults. Lets customers in this group list trusted contacts the bank can reach if it suspects a problem, and protects banks from liability for acting in good faith.
Where it stands
- Proposed
- Passed House or Senate
- Passed both
- Became law
Latest: The Governor signed it. It's now law.
Details
- Bill number
- S. 851
- Official name
- Protection from Financial Exploitation
- Proposed by
- Sen. Alexander and 2 others