Compliance Bulletin

CBA-Sponsored Bill Further Protects Elders and Dependent Adults from Financial Abuse
October 9, 2017

The governor signed a bill, AB 611, allowing mandated reporters of suspected financial abuse of elders and dependent adults to refuse to honor a power of attorney if the potential abuser wields a power of attorney to act on behalf of the person suspected of being abused. The mandated reporter may, but is not required to, refuse to honor a power of attorney if the reporter makes a report to an adult protective services agency or a local law enforcement agency of any state that the elder or dependent adult may be subject to financial abuse by that holder of the power.

 See CBA’s Regulatory Compliance Bulletin for more information.

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