According to The Gazette, Colorado Senate Bill 10-042, which is an attempt to protect against elder financial abuse, has gone into effect. The new law now requires financial institutions, such as banks and credit unions, to offer elderly or impaired customers a chance to sign an information release consent form. This information release form will allow the financial institution to provide account records to law enforcement and social service authorities when financial abuse is suspected. It is thought that banks and other financial facilities are aware of their customers spending habits and circumstances. Because of this, it allows these facilities to be able to detect sudden or unsuspected financial changes. The form is voluntary and once it is signed it will remain active until canceled by the customer.
Has your loved one’s finances been taken advantage of due to another party’s exploitation? Contact a Colorado elder financial abuse lawyer today to further discuss your options and legal rights.
Financial abuse is often seen when a person is elderly or otherwise unable to take care of themselves due to cognitive impairments. This law aims to minimize the manipulation and misuse of elderly finances through the financial institution itself because caregivers and family members are most commonly responsible for the financial exploitation of elders.
If you believe your loved one has been a victim of elder financial abuse and have questions concerning your case, contact an experienced Boulder elder abuse attorney today. Financial abuse is unfortunately becoming more and more common in our society. Seeking a dedicated elder financial abuse lawyer could help relieve your stress by working hard on behalf of your case to ensure you get the support and compensation that you deserve. Rhett Meyer has the experience to deal with the justice system to make sure you receive everything you are entitled to. For more information and a FREE CONSULTATION, contact The Meyer Law Firm, P.C. at (303)444-1618.