,,ii  #aadth ,,congress  #ast ,session  
,s4 #bbaf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,october #bh1  
#bjae ,ms4 ,collins 7for herself and    
,mrs4 ,mc,caskill7 introduced the       
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to provide immunity from suit  
for certain individuals who disclose    
potential examples of financial         
exploitation of senior citizens1 and for
 other purposes4  #a4 ,short title      
,this ,act may be cited as the          
,seniorafe ,act of #bjae4  #b4 ,immunity
  7a7 ,definitions ,in this ,act-- 7#a7 
the term bank has the meaning given the 
term in section #bjb7;a7 of the         
,investment ,advisers ,act of #aidj 7#ae
 ,u4,s4,c4 #hj;b-#b7;a772  7#b7 the term
 broker-dealer means-- 7,a7 a broker1 as
 defined in section #c7;a7 of the       
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a772 or  7,b7 a dealer1
 as defined in section #c7;a7 of the    

,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;c7a772  7#c7 the term    
covered agency means--  7,a7 a ,state   
financial regulatory agency2  7,b7 each 
of the ,federal financial institutions  
regulatory agencies2  7,c7 a law        
enforcement agency2 and  7,d7 the adult 
protective services agency of a ,state2 
7#d7 the term covered financial         
institution means-- 7,a7 a bank2  7,b7 a
 credit union2  7,c7 an investment      
adviser2 and  7,d7 a broker-dealer2     
7#e7 the term credit union has the      
meaning given the term in section #b of 
the ,dodd-,frank ,wall ,street ,reform  
and ,consumer ,protection ,act 7#ab     
,u4,s4,c4 #ecja72  7#f7 the term        
exploitation has the meaning given the  
term in section #bjaa of the ,social    
,security ,act 7#db ,u4,s4,c4 #acig;j72 
7#g7 the term ,federal financial        
institutions regulatory agencies has the
 meaning given the term in section #ajjc
 of the ,federal ,financial             
,institutions ,examination ,council ,act

 of #aigh 7#ab ,u4,s4,c4 #ccjb72  7#h7  
the term investment adviser has the     
meaning given the term in section #bjb  
of the ,investment ,advisers ,act of    
#aidj 7#ae ,u4,s4,c4 #hj;b-#b72 and     
7#i7 the term senior citizen means an   
individual who is not less than #fe     
years of age4  7b7 ,immunity from suit  
7#a7 ,immunity for individuals          
,notwithstanding section #ejb of the    
,gramm-,leach-,bliley ,act 7#ae         
,u4,s4,c4 #fhjb71 including any         
regulations adopted thereunder1 an      
individual who has received the training
 described in section #c shall not be   
liable1 including in any civil or       
administrative proceeding1 for          
disclosing the possible exploitation of 
a senior citizen to a covered agency if 
the individual1 at the time of the      
disclosure--  7,a7 served as a          
supervisor1 compliance officer1 or legal
 advisor for a covered financial        
institution2 and  7,b7 made the         
disclosure-- 7i7 in good faith2 and     

7ii7 with reasonable care4  7#b7        
,immunity for covered financial         
institutions ,notwithstanding section   
#ejb of the ,gramm-,leach-,bliley ,act  
7#ae ,u4,s4,c4 #fhjb71 including any    
regulations adopted thereunder1 a       
covered financial institution shall not 
be liable1 including in any civil or    
administrative proceeding1 for a        
disclosure made by an individual        
described in paragraph 7#a7 if--  7,a7  
the individual was employed by the      
covered financial institution at the    
time of the disclosure2 and  7,b7 before
 the time of the disclosure1 the covered
 financial institution provided the     
training described in section #c to each
 officer or employee of the covered     
financial institution described in      
section #c7;a74  #c4 ,training required 
7a7 ,in general ,a covered financial    
institution may provide training        
regarding the identification and        
reporting of the suspected exploitation 
of a senior citizen to each officer or  

employee of the covered financial       
institution who--  7#a7 is described in 
section #b7;b77#a77;,a72  7#b7 may come 
into contact with a senior citizen as a 
regular part of the duties of the       
officer or employee2 or  7#c7 may review
 or approve the financial documents1    
records1 or transactions of a senior    
citizen in connection with providing    
financial services to a senior citizen4 
7b7 ,training ,the training required    
under subsection 7a7 shall be provided  
as soon as reasonably practicable but   
not more than #ab months after the date 
on which an officer or employee begins  
employment with the covered financial   
institution4  #d4 ,preemption ,nothing  
in this ,act shall be construed to      
preempt or limit any provision of ,state
 law1 to the extent that any provision  
of ,state law provides a similar or     
greater level of protection against     
liability to an individual described in 
section #b7;b77#a7 or a covered         
financial institution described in      

section #b7;b77#b7 than is provided     
under those sections4