Requires certain persons to report financial exploitation of the elderly; repealer

Reports shall be made to the local social services official of the district in which the reporting person gains knowledge of the illegal activity or in which the elderly person resides. The commissioner of children and family services shall promulgate rules providing for the conduct of investigations of reports made pursuant to this section and for the implementation of measures to protect victims against such financial exploitation when it is found.

Section 2: Amends Banking Law section 4(3)so that no banking organization which reports suspected instances of elder abuse shall be liable to any other person for the disclosure of such suspected incidence of elder abuse.

Section 3: Provides for an effective date of the 270 days after this act shall become a law.

Justification

Persons over age 65 are the fastest growing segment of the American population. While senior citizens constituted only 4% of the total population in 1900, by 1994 the proportion of seniors in the united States had grown to 12.5%. By 2050 almost 25% of all Americans will be over age 65. This dramatic shift in population distribution has produced tremendous upheavals in family structure and in our societal response to the senior population. One problem faced by many seniors today is how to care for themselves when their traditional network of support, their children and grandchildren, are occupied with raising their own families and often spread out over a wide geographic area.

Evidence suggests that it is possible that a surprisingly high percentage of seniors are mistreated by family or institutional caregivers or neglected in their basic needs. This maltreatment can take many forms, ranging from physical and psychological abuse 'and neglect to financial abuse and exploitation. While physical abuse and neglect would seem to be a more immediate concern for the elderly than protecting their financial assets from potential theft or conversion by relatives and caregivers, the loss of one's financial assets can have as severe a long-term impact on a senior's wellbeing and quality of life as a physical injury.

A 1990 congressional report also concluded that elder abuse is far less likely to be reported than child abuse, estimating that only 1 in 8 cases of elder abuse, as compared with 1 in 3 cases of child abuse, is ever reported to the authorities. Mandatory reporting of suspected abuse and neglect has been a significant legislative response to the problem of mistreatment and exploitation of the elderly. Currently, 42 states and the District of Columbia have statutes requiring various professionals (typically health care professionals, psychologists and social workers) to report known and suspected incidents to prescribed public officials.

Legislative history

A.7529 of 2000 - Referred to Aging A.2264 of 2002 - Referred to Aging S.2697-A of 2006 - Motion to Petition - Lost S.2256 of 2008 - Referred to Aging S.1838 of 2010 - Reported to Codes

Fiscal implications

None.

Effective date

This act shall take effect on the 270th day after it shall become a law; provided that the commissioner of children and family services is authorized to promulgate any and all rules and regulations necessary to implement this act on its effective date on or before such date.