Florida Senate - 2024                        COMMITTEE AMENDMENT
       Bill No. CS for SB 556
       
       
       
       
       
       
                                Ì9314742Î931474                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: RS            .                                
                  02/27/2024           .                                
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       The Committee on Rules (Rouson) recommended the following:
       
    1         Senate Amendment
    2  
    3         Delete lines 131 - 153
    4  and insert:
    5  designed to educate employees who perform or approve
    6  transactions on behalf of customers on issues pertaining to
    7  financial exploitation of specified adults.
    8         (b) Conduct training for all employees as soon as
    9  reasonably practicable and maintain a written record of all
   10  trainings conducted. With respect to an individual who begins
   11  employment with a covered financial institution after July 1,
   12  2024, such training must be conducted within 1 year after the
   13  date on which the individual becomes employed by or affiliated
   14  or associated with the covered financial institution.
   15         (c) Develop, maintain, and enforce written procedures
   16  regarding the manner in which suspected financial exploitation
   17  is reviewed internally, including, if applicable, the manner in
   18  which suspected financial exploitation is required to be
   19  reported to supervisory personnel.
   20         (7) Absent a reasonable belief of financial exploitation as
   21  provided in this section, this section does not otherwise alter
   22  a financial institution’s obligations to all parties authorized
   23  to transact business on an account and any trusted contact named
   24  on such account.
   25         (8) This section does not create new rights for or impose
   26  new obligations on a financial institution under other
   27  applicable law.
   28         Section 2. This act shall take effect January 1, 2025.