HB 555 — BANKS/BANKING: Provides relative to elderly financial exploitation

HLSENROLLED 26RS-1270 ENGROSSED Regular Session HOUSE BILL NO.

555 BY REPRESENTATIVES CARVER, BOYD, CHASSION, COX, DOMANGUE, JORDAN,JORDAN,JACOBLANDRY,TERRYLANDRY,MCMAKIN,MENA,NEWELL, JACOBRISER, LANDRY,TERRYAND LANDRY,MCMAKIN,MENA,NEWELL,RISER,ST. ANDST.

BLANC BANKS/BANKING:AN ACT To amend and reenact R.S.

Provides relative to elderly financial exploitation AN ACT To amend and reenact R.S.

6:1372(5)(c)and(d)and(7)and1373.1,relativetoprotectionofeligibleadultsfrom6:1372(5)(c) financialexploitation;toprovidefordefinitions;toprovidefornotice;toprovideforand training;(d) and (7), 1373.1, and 1374(G), relative to protection of eligible adults from financial exploitation;

to provide for delaysdefinitions; of financial transactions;

and to provide for relatednotice; matters.

toprovidefortraining;toprovidefordelaysoffinancialtransactions;andtoprovide for related matters.

6:1373(B)(2) and 1374(E)(2) and (F)(1) are hereby amended and reenactedreenactedand and R.S.

6:1372(5)(c)6:1372(5)(c)and and (d) and (7)(7), 1373.1, and 1373.1,1374(G) are herebyherebyenactedto enacted to read as follows:

* * * (c) The use of a scam, a deceptive scheme, enticement, extortion, or impersonation of a government official, causing the eligible adult to conduct a Pagefinancial 1transaction ofor 4to CODING:transfer money to a stranger or imposter for a promised benefit or good that the eligible adult did not receive.

(d) The use of fraud, false pretense, or misrepresentation in conducting a financial transaction for personal gain at the expense of the eligible adult.

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HLS 26RS-1270 ENGROSSED HB NO.

555 financialENROLLED transaction(7) or"Trusted tocontact" transfermeans money to a strangerperson orwho imposteris foreighteen ayears promisedof benefitage or goodolder whomaneligibleadulthasauthorizedacoveredfinancialinstitutiontocontactifthe covered financial institution believes that financial exploitation of the eligible adult didis notoccurring, receive.has or may have occurred, or is being attempted, or has been, or may have been attempted.

(d) The use of fraud, false pretense, or misrepresentation for personal gain at the expense of the eligible adult.

* * * (7) "Trusted contact" means a person who is eighteen years of age or older whomaneligibleadulthasauthorizedacoveredfinancialinstitutiontocontactifthe covered financial institution believes that financial exploitation of the eligible adult is occurring, has or may have occurred, or is being attempted, or has been, or may have been attempted.

A third party reasonablyreasonablyassociated associated with the eligible adult includes but is not limited to all of the following:

Training for covered financial institutions ABeginning January 1, 2027, a covered financial institution shall provide training to the appropriate employees who interact with eligible adults regarding financial transactions on recognizing and responding to the signs of exploitation of an eligible adult.

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Wordsinstruckthroughtypearedeletionsfromexistinglaw;wordsunderscored are additions.

HLS 26RS-1270 ENGROSSED HB NO.

555 §1374.

* * * (2)Page Fifteen2 Thirty business days pass from the date on which the covered financial institution first initiated the delay of the3 financialCODING: transaction.

F.(1) A covered financial institution may extend the delay provided for in Subsection E of this Section upon receiving a request to extend the delay from any covered agency, in which case the delay shall expire or be terminated no later than twenty-five forty-five business days from the date on which the covered financial institution first initiated the delay of the financial transaction.

* * * DIGEST ThedigestprintedbelowwaspreparedbyHouseLegislative Services.

It constitutes nopart of the legislative instrument.

The keyword, one-liner, abstract, and digest do not constitute part of the law or proof or indicia of legislative intent.

[R.S.

1:13(B) and 24:177(E)] HB 555 Engrossed 2026 Regular Session Carver Abstract:

Provides relative to protection of eligible adults from financial exploitation.

Present law defines "financial exploitation".

Proposed law adds to the definition of "financial exploitation" the following:

(1) The use of a scam, a deceptive scheme, enticement, extortion, or impersonation of agovernmentofficial,causingtheeligibleadulttoconductafinancialtransactionor to transfer money to a stranger or imposter for a promised benefit or good that the eligible adult did not receive.

(2) Theuseoffraud,falsepretense,ormisrepresentationforpersonalgainattheexpense of the eligible adult.

Proposed law defines "trusted contact".

Present law provides that a covered financial institution maynotifya third partyreasonably associated with an eligible adult in certain circumstances.

Present law further provides that a third party includes an authorized contact provided by the eligible adult to the covered financial institution.

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