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Hassan signs bill aimed at ending elderly financial abuse
Supporters say financial exploitation is a growing problem in New Hampshire with its expanding elderly population, often leaving victims destitute or with greatly diminished assets.
House Bill 1555 more clearly defines financial exploitation as abusing the trust or confidence of a person over 60 years old, disabled or impaired to gain access to their money or assets for the person’s own personal gain.
Anyone convicted under the law would be required to restore the victim’s assets.
“We are sending the word out today this abuse stops now,” Rogers said. “New Hampshire will not tolerate this abuse of the elderly.”
Susan Staples of the Merrimack County Coordinated Community Response Team said it is important for state and local agencies to protect the rights of the elderly, disabled and impaired.
“As their situation changes,” Hassan said, “they should have the same protections against abuse we all would want to have.”
The New Hampshire Bankers Association said the new law provides greater clarity for banks to report suspect transactions.
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