Georgia banks and credit unions now have explicit authority to hit pause on suspicious transactions when employees suspect an elderly or disabled adult is being exploited.
House Bill 945, which took effect July 1, applies to an “eligible adult” — a person 65 or older or a disabled adult — and allows financial institutions to place a hold on a transaction if they have reasonable cause to believe it may involve or contribute to financial exploitation.
The law covers transactions involving an eligible adult’s account, an account where an eligible adult is a beneficiary, or the account of someone suspected of perpetrating the exploitation.
If a hold is placed, the bank or credit union generally must notify parties authorized to transact business on the account and any trusted contact within three business days, unless the institution reasonably believes those people may be involved. The institution must review the circumstances that led to the hold.
Holds expire on the 15th business day after they are placed. They can be extended for up to another 15 business days if the review continues to support reasonable suspicion, and a court can shorten or extend the hold.
Financial institutions must have employee training policies and written procedures before using the tool. Banks and their officers, directors and employees receive immunity from administrative, criminal or civil liability when they act in good faith and exercise reasonable care.
The measure lands amid a surge in fraud targeting older Americans. The FBI’s Internet Crime Complaint Center said victims 60 and older reported more than $7.7 billion in losses in 2025.
For families, the practical takeaway is simple: seniors can ask their bank or credit union about adding a trusted contact before a suspicious transaction ever occurs.
