CaliforniaFinancial institutions must report suspected elder abuse to the FBI
Starting January 1, 2028, financial institutions must report suspected elder or dependent adult financial abuse to the FBI, notify the person named, and train staff.
What it does
When staff must report suspected financial abuse of an elder or dependent adult to local authorities, they must also report it to the FBI Internet Crime Complaint Center within two working days. This new federal report carries no civil penalty under this section.
Within 48 hours after filing an FBI report, the financial institution must tell the named elder or dependent adult, encourage them to file a complaint, and share FBI contact information. It must use the person’s preferred contact method on record.
Financial institutions must train their mandated reporters each year on raising concerns inside the institution and reporting suspected abuse to local and federal authorities, including the FBI and Federal Trade Commission.
Argument forTelling federal investigators and the person named in a report could help older adults share details that may aid investigations.
Argument againstFederal reports, yearly training, and quick notices could add work for financial institutions and their staff when suspected abuse cases arise.
More detail
Mandated reporters at financial institutions must also report suspected financial abuse to the FBI Internet Crime Complaint Center. This covers financial institution officers and employees who have direct contact with the elder or dependent adult, or review or approve that person’s financial records or transactions, and who meet the existing reporting standard. The new FBI reporting duty is not subject to the civil penalties described for failures to report under this section. This requirement becomes operative January 1, 2028.
Financial institutions must notify the elder or dependent adult named in an FBI report and share required information. The notice goes to the elder or dependent adult identified in the institution’s FBI report. The notice must say the institution filed a report, encourage the person to file their own FBI complaint, explain that more information may help investigations, and give FBI contact information. The institution must use the person’s preferred communication method recorded by the institution. This notice duty is not subject to the section’s civil penalties. The 48-hour period starts when the institution files the FBI report. This requirement becomes operative January 1, 2028.
Financial institutions must provide annual training to their mandated reporters on internal escalation and reporting suspected abuse to local and federal authorities. The training is for financial institution officers and employees who are mandated reporters of suspected financial abuse of an elder or dependent adult. Training must include reporting to the FBI Internet Crime Complaint Center and the Federal Trade Commission. This requirement becomes operative January 1, 2028.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 20Chaptered by Secretary of State - Chapter 360, Statutes of 2026.Latest
- Sep 20Approved by the Governor Gavin Newsom.Became Law
- Aug 27Enrolled and presented to the Governor at 4 p.m.To Governor
- Aug 20Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 6310.).Major
- Vote recorded AB 871 Stefani Concurrence in Senate Amendments. Result: pass.Lower
- Aug 19In Assembly. Concurrence in Senate amendments pending.
- Vote recorded 3rd Reading AB871 Stefani et al. By Grayson. Result: pass.Upper
- Aug 19Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 0. Page 5547.).Passed Senate
- Jul 2Read second time. Ordered to third reading.Minor
- Jul 1Ordered to second reading.Minor
- Jul 1Withdrawn from committee.Major
- Jul 1From committee: Do pass and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (June 30). Re-referred to Com. on APPR.Minor
- Jun 30
- Vote recorded Do pass, but first be re-referred to the Committee on [Appropriations]. Result: pass.Upper
- Jun 22Read second time and amended. Re-referred to Com. on JUD.Major
- Jun 18From committee: Amend, and do pass as amended and re-refer to Com. on JUD. (Ayes 7. Noes 0.) (June 17).Major
- Jun 17
- Vote recorded Do pass as amended, but first amend, and re-refer to the Committee on [Judiciary]. Result: pass.Upper
- May 6Referred to Coms. on B. & F.I. and JUD.Minor
- Jan 22In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 871 Stefani Assembly Third Reading. Result: pass.Lower
- Jan 22Read third time. Passed. Ordered to the Senate. (Ayes 69. Noes 0. Page 3807.)Passed Assembly
- Jan 20Measure version as amended on January 16 corrected.Major
- Jan 20Read second time. Ordered to third reading.Minor
- Jan 16Read second time and amended. Ordered returned to second reading.Major
- Jan 15From committee: Amend, and do pass as amended. (Ayes 12. Noes 0.) (January 15).Major
- Vote recorded Do pass as amended. Result: pass.Lower
- Jan 13From committee: Do pass and re-refer to Com. on JUD. (Ayes 8. Noes 0.) (January 12). Re-referred to Com. on JUD.Minor
- Jan 13Coauthors revised.
- Jan 12
- Vote recorded Do pass and be re-referred to the Committee on [Judiciary]. Result: pass.Lower
- Jan 8(Pending re-refer to Com. on JUD.)Minor
- Jan 8Assembly Rule 56 suspended. (Page 3717.)
- 2025
- Mar 28Referred to Coms. on B.&F. and JUD.Minor
- Feb 20From printer. May be heard in committee March 22.
- Feb 19Read first time. To print.Introduced
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