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California law takes hard line with financial abuse on elders

LTC Liability Monitor, September 1, 2005

California Gov. Arnold Schwarzenegger this week signed a bill that will require bank, credit union, and healthcare workers to report any suspected financial mistreatment of elders to proper authorities, according to the San Francisco Chronicle. Like social workers and clergy, healthcare professionals, including all SNF and assisted living facility administrators, must report suspicious findings.

The reasoning, the Chronicle reported, is that bank tellers and caregivers are in unique positions to see whether someone's life savings is being misused or otherwise compromised. Under the law, which will take effect on January 1, 2007, state and local prosecutors can seek civil penalties of up to $5,000 from financial institutions that fail to report financial crimes against seniors. California joins 18 other states that require this type of check.

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