|Gov. Pat McCrory
||Sen. Stan Bingham
||Rep. Hugh Blackwell
Governor Pat McCrory signed Senate Bill 140 (SB140) following its passage by the NC General Assembly. The League worked with members of the Task Force on Fraud Against Older Adults to outline steps North Carolina can take to increase the recognition, reporting and prosecution of those who defraud or financially exploit older adults. SB 140 is a result of those efforts and will require all financial institutions to report cases of suspected financial abuse to local law enforcement and Adult Protective Services, adding an additional layer of protection for the growing elder population. Sen. Stan Bingham and Rep. Hugh Blackwell served as co-chairs of the Task Force.
Credit unions were active and engaged throughout the legislative process, and the result is a final law that strengthens protections for older adults while providing flexibility for credit unions in the set-up and collection of a trusted persons list. "We thank the General Assembly for their sensitivity to the concerns of credit unions as they worked to craft the bill," said NCCUL President/CEO John Radebaugh. "The League is also grateful to credit unions for giving feedback that helped make a good piece of legislation even better."
Further changes to SB 140 happened during its third and final reading in the House Chamber July 11. Rep. Skip Stam (R-Wake) amended the bill, changing the definition of an "older adult" from a person 60 years of age or older to a person 65 years of age or older. From there, the bill passed into law and netted the Governor's signature soon after.
In addition to League and State Employees’ Credit Union representation on the Task Force of Fraud Against Older Adults, the N.C. Banker's Association, N.C. Attorney General's Office and the N.C Department of Health and Human Services also participated in the legislative process. The Task Force will resume meetings later this year.