Virginia Looking To Protect Seniors From Financial Exploitation
Updated: Apr 1, 2019
The Virginia General Assembly appears to be on the verge of passing legislation that seeks to better protect senior citizens from financial crimes and abuse. Though both the House of Delegates and Senate still need to resolve differences in their respective versions of the proposed law, a final bill is expected to be passed this year.
The heart of the legislation grants authority to banks and other financial institutions to refuse transactions where there is a good faith belief that financial exploitation of a senior or incapacitated adult would result.
Helping to protect senior citizens from abuse and exploitation is a key concern for elder law practitioners.