VETERAN SCRATCH-OFF GAME

Amends the Adult Protective Services Act. Provides that any employee of a financial institution who willfully fails to report as required by the Act shall be referred to the Department of Financial and Professional Regulation for possible disciplinary action. Expands the list of mandated reporters under the Act to include investment advisers and investment adviser representatives as defined in the Illinois Securities Law of 1953, dealers and salespersons as defined in the Illinois Securities Law of 1953, and employees of financial institutions who serve as branch managers or members of the compliance team. Provides that the term "financial institution" is limited to a federally or State-chartered bank, savings bank, savings and loan association, or credit union. Requires the Department on Aging to develop by joint rulemaking with the Department of Financial and Professional Regulation minimum training standards which shall be used by financial institutions for its employees. In provisions granting specified persons with access to Department records concerning reports of financial exploitation and other forms of abuse or neglect, extends such access to: (i) a court appointed executor or administrator (rather than an executor or administrator) of the estate of an eligible adult who is deceased, unless the executor or administrator is the abuser or the alleged abuser; and (ii) any court of competent jurisdiction with a valid court order for an in camera inspection (rather than a probate court with jurisdiction over the guardianship of an alleged victim). In cases where a coroner or medical examiner has reason to believe that an eligible adult has died as the result of abuse, abandonment, neglect, financial exploitation, or self-neglect, requires the Department (rather than the provider agency) to provide the coroner or medical examiner with all records pertaining to the eligible adult as soon as practicable. Provides that the Department, at its discretion, may provide its report records to any professional licensing board or commission, investigatory unit, prosecutorial unit, or similar disciplinary body if any substantiated abuser falls under its purview. Provides that all records not generated by the Department but obtained during the course of an Adult Protective Service investigation or related to an Adult Protective Service case, including, but not limited to, financial records and medical records, shall be confidential and shall not be disclosed except at the Department's sole discretion. Provides that such records may be obtained through intergovernmental agreements with the Department and are exempt from disclosure under the Freedom of Information Act. Requires the Department to establish, by July 1, 2028, a web-based portal to receive alleged or suspected reports of financial exploitation as well as other reports of alleged or suspected abuse, abandonment, neglect, or self-neglect. Amends the Illinois Securities Law of 1953. Provides that dealers, salespersons, investment advisers, and investment adviser representatives may issue an initial transactional hold when they have a reasonable suspicion that a transaction or disbursement from an account of an eligible adult may involve, facilitate, result in, or contribute to financial exploitation of that eligible adult. Grants criminal, civil, and administrative immunity to dealers, salespersons, investment advisers, and investment adviser representatives who hold a transaction in good faith or who contact or elect not to contact an eligible adult's trusted contact person when they have a reasonable suspicion that a transaction or disbursement from the eligible adult's account may involve, facilitate, result in, or contribute to financial exploitation of that eligible adult. Contains provisions concerning the duration of initial transactional holds and extended transactional holds; transactional hold notice requirements; and other matters. Makes conforming changes to the Illinois Banking Act, the Savings Bank Act, and the Illinois Credit Union Act. Effective July 1, 2027.

Status

Passed

Signed or otherwise enacted

Status date

Jul 30, 2026

105 days ago

Current chamber

House of Representatives

Session

2025-2026 Regular Session