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Financial Services Law Insights and Observations

Virginia law allows financial institutions to share documents related to elder exploitation

State Issues State Legislation Elder Financial Exploitation

State Issues

On March 12, the Virginia governor signed HB 2225, which amends the state’s law relating to financial exploitation of adults, to provide that any financial institution staff who “suspects that an adult has been exploited financially” may now provide supporting information and records to the local department of social services, in addition to simply reporting the suspected exploitation as provided for under current law. The amendment is effective July 1.

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