Under this proposal, bankers can delay a transaction by five days if they believe their customer is a victim of elder financial abuse. Recommendations from the WBA and its members are being used in this proposal by Sen. Pat Testin and Rep. John Macco.
The bill was unveiled during a press conference last week. WBA’s Rose Oswald Poels spoke on behalf of the banking industry at the event. Other participants included Heather Bruemmer, Wisconsin Board on Aging and Long Term Care; Helen Marks-Dicks, AARP; Audra Martine, La Crosse County Human Services Department; and Chief Melvin Pederson, Town of Grand Rapids Police Department.