,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #iffh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,july #ad1 #bjbf,mr4  
,davis ( ,nor? ,c>ol9a 7= himself & ,mr4
 ,nunn ( ,i[a7 introduc$ ! foll[+ bill2 
:i* 0 ref]r$ to ! ,committee on         
,f9ancial ,s]vices  ,a ,,bill  ,to      
au?orize f9ancial in/itutions to delay  
or refuse transactions t may involve !  
f9ancial exploitation ( old] adults &   
vuln]able p]sons1 & = o!r purposes4  #a4
 ,%ort title ,?is ,act may be cit$ z !  
,safegu>d+ ,transactions to ,outpace    
,pr$atory ,s5ior ,fraud ,act or ! ,,/op 
,s5ior ,fraud ,act4  #b4 ,tempor>y hold 
on transactions  7a7 ,9 g5]al ,a        
f9ancial in/itution may refuse or       
tempor>ily delay a disbursem5t or       
transaction f an acc\nt if ! f9ancial   
in/itution reasonably believes t        
f9ancial exploitation has occurr$1 or is
 be+ attempt$ ?r\gh su* transaction or  
acc\nt1 & ! acc\nt is held by or on     
behalf (--  7#a7 an old] adult2  7#b7 a 
vuln]able p]son2 or  7#c7 a p]son :o has

 exp]i5c$ f9ancial exploitation or fraud
 previ\sly 9 connection ) ! acc\nt & has
 report$ x to ! f9ancial in/itution4    
7b7 ,duration ( delay  7#a7 ,9 g5]al    
,any delay ( a disbursem5t or           
transaction conduct$ "u subsection 7a7  
%all la/ n long] ?an #ee days aft] !    
date ! disbursem5t or transaction is    
initially reque/$4  7#b7 ,ext5sion ,a   
f9ancial in/itution may ext5d a delay "u
 subsection 7a7 until up to #he days    
aft] ! date ! disbursem5t or transaction
 is initially reque/$ if ! f9ancial     
in/itution conducts an int]nal review t 
f9ds t facts & circum/ances support !   
reasonable belief t f9ancial            
exploitation ( ! specifi$ adult has     
occurr$1 is occurr+1 has be5 attempt$1  
or w be attempt$4  7#c7 ,t]m9ation (    
delay ,a f9ancial in/itution may t]m9ate
 a delay impos$ on a disbursem5t or     
transaction "u subsection 7a7 if-- 7,a7 
! f9ancial in/itution det]m9es t        
f9ancial exploitation w n take place if 
! transaction occurs2 or  7,b7 a ,f$]al 

c\rt directs ! in/itution to release !  
funds4  7c7 ,notice requirem5t ,if a    
f9ancial in/itution refuses or delays a 
disbursem5t or transaction "u subsection
 7a71 su* f9ancial in/itution %all z    
soon z practical & )\t unreasonable     
delay aft] delay+ or refus+ su*         
disbursem5t or transaction--  7#a7      
notify all p>ties au?oriz$ to transact  
on ! acc\nt1 unless ! f9ancial          
in/itution reasonably believes t ^!     
p]sons h engag$ 91 are engag+ 91 h      
attempt$ to engage 91 or w attempt to   
engage 9 ! suspect$ f9ancial            
exploitation ( ! eligible adult2  7#b7  
notify a tru/$ contact id5tifi$ by !    
own] ( ! acc\nt or a ?ird p>ty !        
f9ancial in/itution has det]m9$ is      
reasonably associat$ ) ! hold] ( !      
acc\nt1 if available & appropriate & n  
suspect$ ( ! fraud1 z det]m9$ by !      
f9ancial in/itution2 &  7#c7 report !   
suspect$ f9ancial exploitation to !     
appropriate ,/ate & local protective    
s]vices1 law en=cem5t1 & a ,f$]al       

regulatory au?ority )9 two bus9ess days4
  7d7 ,employee tra9+ ,ea* f9ancial     
in/itution %all provide tra9+ to ea*    
employee ( ! f9ancial in/itution t !    
f9ancial in/itution has reason to expect
 may h&le transactions ) hold]s (       
acc\nts ab\t-- 7#a7 id5tify+ f9ancial   
exploitation2  7#b7 h&l+ transactions   
involv+ old] adults & vuln]able p]sons2 
&  7#c7 refus+ or delay+ transactions "u
 ?is section4  7e7 ,safe h>bor ,a       
f9ancial in/itution %all n be liable to 
any p]son-- 7#a7 = refus+ or delay+ a   
disbursem5t or transaction 9 good fai? &
 9 compliance ) ?is section2  7#b7 =    
decid+ n to delay1 refuse1 or prev5t a  
transaction 9 good fai? & 9 compliance )
 ?is section2 or  7#c7 = disclos+       
in=mation to a tru/$ contact1 ,adult    
,protective ,s]vices or appropriate law 
en=cem5t 9 compliance ) ?is section4    
7f7 ,rulemak+ ,! ,director ( ! ,bureau (
 ,consum] ,f9ancial ,protection may     
issue su* rules z ! ,director ( !       
,bureau ( ,consum] ,f9ancial ,protection

 det]m9es appropriate to c>ry out ?is   
section4  7g7 ,rule ( con/ruction ,no?+ 
9 ?is section may be con/ru$ to preempt 
any requirem5t ( any ,/ate or local law 
or regulation t is m protective ( old]  
adults1 vuln]able p]sons or p]sons :o h 
exp]i5c$ f9ancial exploitation or fraud4
  7h7 ,def9itions ,9 ?is section3 7#a7  
,! t]m vuln]able p]son means--  7,a7 a  
p]son ) a physical or m5tal impairm5t t 
sub/antially limits or re/ricts !       
p]son's ability to provide = _! own c>e 
or protection2 or  7,b7 a p]son :o has a
 developm5tal disability4  7#b7 ,! t]m  
f9ancial exploitation means-- 7,a7 !    
wrongful or unau?oriz$ tak+1 )hold+1    
appropriation1 or use ( ! money1 assets1
 or o!r prop]ty or ! id5tify+ in=mation 
( a vuln]able p]son or s5ior adult by   
any p]son2 or  7,b7 an act to obta9     
control1 ?r\gh deception1 intimidation1 
fraud1 or undue influ5ce1 ov] ! money1  
assets1 or o!r prop]ty ( a vuln]able    
p]son or s5ior adult to deprive su*     
p]son ( ! own]%ip1 use1 b5efit1 or      

possession ( ! prop]ty4  7#c7 ,! t]m    
f9ancial in/itution has ! mean+ giv5 !  
t]m 9 section #hjc ( ! ,dodd-,frank     
,wall ,/reet ,re=m & ,consum]           
,protection ,act4  7#d7 ,! t]m old]     
adult means an individual :o is #fb ye>s
 ( age or old]4  7#e7 ,! t]m tru/$      
contact means a p]son designat$1 9      
writ+1 by ! hold] ( an acc\nt at a      
f9ancial in/itution1 :o may be contact$ 
if !re is a conc]n ab\t activity 9      
acc\nt ( ! p]son4  7i7 ,effective date  
,?is section %all take effect #ahj days 
aft] ! date ( ! enactm5t ( ?is section4