New Laws Open the Door for Elder Financial Abuse Prosecution- Banks Object

CARSON CITY, Nev. Banks oppose bill requiring teller reports of elder abuse

Banking lobbyists argued Wednesday against a bill that makes it a misdemeanor for a bank employee to not report financial abuse of an elderly person, saying it could make criminals out of bank tellers.

AB87 expands an existing law that requires reporting elder abuse to include employees of financial institutions that deal directly with someone 60 or older or that review their financial transactions.

Washoe County District Attorney Karl Hall backed the bill, saying it will help adult protective services and law enforcement get a handle on elder abuse problems since financial exploitation occurs more often than physical abuse.

The National Center on Elder Abuse estimates there were almost 400,000 reports of elder abuse in the United States in 2004. Most often, family members report abuse, but other reporters include neighbors, social services staff, law enforcement and doctors.

March 21, 2007 abridged read it all here >>