Houston Estate Planning and Elder Law Attorney Blog
Virginia is taking steps to protect seniors and other vulnerable individuals against financial exploitation, by giving financial institutions more resources to prevent this growing crime.
With bipartisan support, the state House and Senate of Virginia have passed versions of State Bill 1490, which encourages financial institutions to have more leeway in making decisions to protect the elderly, when it suspects exploitation is occurring. However, for now, the State and the Senate have yet to reconcile the two bills to make it into the state’s laws.
“This bill addresses the issue of financial exploitation of older Virginians, which has been on the rise in recent years,” said the sponsor, Senator Mark Obenshain, R-Rockingham.