S.2216 - Senior$afe Act of 2015114th Congress (2015-2016)
|Sponsor:||Sen. Collins, Susan M. [R-ME] (Introduced 10/28/2015)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 10/28/2015 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.2216 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in Senate (10/28/2015)
Senior$afe Act of 2015
This bill provides that: (1) a supervisor, compliance officer, or legal advisor for a covered financial institution who has received training regarding the identification and reporting of the suspected exploitation of a senior citizen (at least 65 years old) shall not be liable for disclosing such exploitation to a covered agency if such individual made the disclosure in good faith and with reasonable care; and (2) a covered financial institution shall not be liable for such a disclosure by such an individual if such individual was employed by the institution at the time of the disclosure and the institution had provided such training.
A "covered financial institution" means a bank, a credit union, an investment adviser, or a broker-dealer. A "covered agency" means each of the federal financial institutions regulatory agencies or a state financial regulatory agency, law enforcement agency, or adult protective services agency.
A covered financial institution may provide such training to each of its supervisors, compliance officers, or legal advisors who: (1) may come into contact with a senior citizen as a regular part of such employee's duties; or (2) may review or approve the financial documents, records, or transactions of a senior citizen in connection with providing him or her financial services.