HB 1238: protect financial institutions taking action to prevent the financial exploitation of consenting, senior, or vulnerable adults.
HB 1238 status: Enacted — Signed by the Governor on 2026-03-12 H.J. 562 (updated Mar 12, 2026).
What this bill does
Overall score
Bill summary
OfficialThis bill would protect banks and credit unions from being sued if they pause a suspicious transaction to stop someone from scamming a senior or a vulnerable adult. It is currently being reviewed in the House.
Key analysis
Impact analysis
Environment
Benefits
- no identified impact
Risks
- no identified impact
Economy
Benefits
- reduces financial losses from fraud
- provides liability certainty for financial institutions
Risks
- potential for temporary liquidity issues for consumers if transactions are flagged incorrectly
Society
Benefits
- provides critical protection for seniors and vulnerable adults
- empowers institutions to act against exploitation
Risks
- risk of institutional overreach when defining suspicious activity
How trustworthy & consequential it is
Source
OpenStates
Confidence
lowlow
Analysis status
OpenStates summary
LegiScan returned a PDF-only document. PDF extraction is not enabled in this build, so the pipeline used a safer fallback.
Analysis based on abstract summary only; full statutory text not reviewed
Where it stands
Introduced
CompleteCommittee
CompleteFloor
CompleteGovernor
CompleteEnacted
CompleteHow it affects your district
Set your location
Add your district to see how this bill may affect your community and who to contact.
Take action
Contact your representatives
Let them know how you feel about this bill.
Share your view
Join the discussion and see what others are saying.
Track this bill
Stay updated on progress and changes.