[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2062 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2062

  To amend the Right to Financial Privacy Act of 1978 with respect to 
        financial exploitation of older or disabled individuals.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 8, 1999

 Mrs. Maloney of New York (for herself and Mr. Castle) introduced the 
  following bill; which was referred to the Committee on Banking and 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Right to Financial Privacy Act of 1978 with respect to 
        financial exploitation of older or disabled individuals.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Privacy Act Amendments of 
1999''.

SEC. 2. FINANCIAL EXPLOITATION.

    Section 1103(d) of the Right to Financial Privacy Act of 1978 (12 
U.S.C. 3403(d)) is amended by inserting after paragraph (2) the 
following:
    ``(3) Nothing in this title shall preclude a financial institution, 
or officer, employee, or agent thereof, from reporting suspected 
financial exploitation of an older or disabled individual to State, 
Federal, or local law enforcement entities, or government-regulated 
adult protective services entities. Such report may include only the 
name or other identifying information concerning an older or disabled 
individual, the account involved, and the nature of any suspected 
financial exploitation, including pertinent documentation. Any 
financial institution, or officer, employee, or agent thereof, making a 
disclosure of information and documentation pursuant to this paragraph 
shall not be liable to the customer under any law or regulation of the 
United States or any constitution, law, or regulation of any State or 
political subdivision thereof, for such disclosure. For purposes of 
this paragraph, the term ``older or disabled individual'' means an 
individual who is 65 years of age or older or disabled, and the term 
``exploitation'' means any fraud, abuse, or other conduct that 
constitutes a violation of any Federal or State law, including any 
legally enforceable professional standard applicable with regard to any 
profession or occupation, and the unauthorized use of an older or 
disabled individual's funds, property, or resources for another 
person's profit or advantage.''.
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