One of the rules allows members to place a temporary hold on the disbursement of funds or securities from the account of a specified adult if the member reasonably believes that financial exploitation of the specified adult has occurred, is occurring, has been attempted, or will be attempted.
The other rule requires members to identify a trusted contact person over the age of 18 who may be contacted about the customer’s account.
Clabby urges members to proactively reexamine their infrastructure, policies, procedures, and training to secure support for the rules and their intended beneficiaries.
Read the article.
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