Alexander-sponsored bill becomes law

With the governor’s signature, a measure sponsored by State Senator Thomas Alexander has become law that protects vulnerable South Carolina adults from fake financial transactions.  S. 425 allows banks, credit unions, and other financial companies to decline, delay, or report transactions that are suspected of exploiting adults or seniors 55 and older.  The new law allows, but does not require, reporting of financial exploitation to the Adult Protective Program of DSS and the Securities Division of the Attorney General; a hold on disbursements for up to 30 days, with limited extensions, while the financial exploitation report is investigated.  A vulnerable adult is a person 18 or older with a physical or mental condition, which substantially impairs the person from adequately providing their own care. In all, 31 states passed similar legislation.