AB 909: Financial abuse of an elder or dependent adult: fraudulent transactions: liability.

This bill aims to protect victims of financial abuse of elderly or dependent adults by increasing civil penalties for financial institutions that fail to report known or suspected abuse. The bill would also limit the liability of victims who suffer financial abuse due to non-compliance to the lesser of $50 or the amount obtained in the fraudulent transaction. Additionally, the bill requires financial institutions to investigate and determine if a consumer is a victim of financial abuse within a certain timeframe if they receive notice that the consumer believes they are a victim.