The California Elder Financial Abuse Prevention Act.

This bill would enact the California Elder Financial Abuse Prevention Act, which would authorize a depository institution, as defined, to take specified actions when, based on their own observations or information received from a governmental or law enforcement agency, the institution believes that an eligible adult, as defined, is the victim or target of financial abuse, including delaying or refusing a transaction involving the eligible adult and preventing the transfer of funds from the eligible adult's account. The bill would authorize a depository institution to notify an associated third party, as defined, if the depository institution believes an eligible adult may be the victim of financial abuse, and would exempt that disclosure from state privacy laws or requirements.