(a)  Commencing no later than 45 days following passage of the Act, regulated institutions shall provide training concerning the financial exploitation of elder adults to employees of regulated institutions as defined in § 19-34-1, and shall provide this training to new employees within the first three (3) months of their employment.

Terms Used In Rhode Island General Laws 19-34-7

  • Department: means the Rhode Island office of healthy aging. See Rhode Island General Laws 19-34-1
  • Elder adult: means a person who is sixty (60) years of age or older. See Rhode Island General Laws 19-34-1
  • Exploitation: means the fraudulent or otherwise illegal, unauthorized, or improper act or process of an individual, including, but not limited to, a caregiver or fiduciary that uses the resources of an elder adult for monetary or personal benefit, profit, gain, or that results in depriving an elder adult of rightful access to or use of benefits, resources, belongings, or assets by use, undue influence, harassment, duress, deception, false representation or false pretenses, or conduct in violation of § 11-68-2. See Rhode Island General Laws 19-34-1
  • Regulated institution: means any financial institution, credit union, or other insured deposit-taking institution, that is authorized to do business in this state, including one authorized by operation of an interstate banking statute that allowed it original entry. See Rhode Island General Laws 19-34-1

(b)  The training shall include recognition of indicators of financial exploitation of an elder adult; the manner in which employees may report suspected financial exploitation to the department and law enforcement as mandatory reporters; and steps employees may take to prevent suspected financial exploitation of an elder adult as authorized by law or agreement between the regulated institution and customers of the regulated institution. The elder abuse unit of the office of attorney general and the department shall develop standardized training that the regulated institutions may offer, or the regulated institutions may develop their own training.

History of Section.
P.L. 2021, ch. 73, § 1, effective June 23, 2021; P.L. 2021, ch. 74, § 1, effective June 23, 2021.