Banks must also report suspected elder financial abuse to the FBI and tell the person
When a financial institution's mandated reporter reports suspected financial abuse of an elder or dependent adult, a report must also go to the FBI's Internet Crime Complaint Center within 2 working days. The institution must notify the person within 48 hours and train reporters yearly.
Who it affects
Banks, credit unions and other financial institutions, and older and dependent adults
When
This law takes effect on January 1, 2027; the changes described here start on January 1, 2028.
- : Signed into law
- : Law takes effect
- : The changes described here start to apply
Official text
California AB 871: Mandated reporters of suspected financial abuse of an elder or dependent adult.
On California Legislative Information. The official text is what counts; read it before you act.
Not legal advice. Plain-English summaries to help you find what changes and when. Not legal advice: read the official text, and ask a lawyer about your situation.