Florida Senate - 2024                        COMMITTEE AMENDMENT
       Bill No. CS for SB 556
       
       
       
       
       
       
                                Ì441042kÎ441042                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  02/27/2024           .                                
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       The Committee on Rules (Rouson) recommended the following:
       
    1         Senate Substitute for Amendment (931474) 
    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 employees described in paragraph
    9  (a) as soon as reasonably practicable and maintain a written
   10  record of all trainings conducted. With respect to an individual
   11  who begins employment with a covered financial institution after
   12  July 1, 2024, such training must be conducted within 1 year
   13  after the date on which the individual becomes employed by or
   14  affiliated 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 or new duties on a financial institution under
   27  other applicable law.
   28         Section 2. This act shall take effect January 1, 2025.