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NEW FEDERAL LAW ON ELDER FINANCIAL EXPLOITATION

In 2017, TBA and the Tennessee Legislature made a huge push to ensure financial institutions had the tools needed to aid in the fight to protect our elderly and vulnerable adult customers from financial exploitation. Now, with the signing of the Economic Growth, Regulatory Relief, and Consumer Protection Act on May 24, 2018, the federal government is providing immunity when reporting suspected elder financial exploitation to federal, state, and local authorities.