Making Maryland banks stronger and more successful.
DATE: September 14, 2012
TO: Maryland Bankers Association Members
FROM: Kathleen M. Murphy, President & CEO
SUBJ: Important Update! MBA Tools Now Available to Help You Comply with
New Elder Abuse Reporting Law
As of Oct.1, 2012 Maryland financial institutions must: (1) have an elder financial abuse training program in place, and (2) report suspected cases of elder financial abuse. To help our members comply with the new law, we developed the following tools:
(1) A turn-key, on-line elder abuse training and reporting program entitled Maryland Elder Financial Exploitation Detection, Prevention, and Reporting. This interactive course teaches employees to recognize elder financial abuse signs and know how and when to report elder financial abuse. Click here to learn more;
(2) MBA’s Elder Financial Abuse Reporting Protocol Chart – this handy two page chart guides bank management and staff on what action steps to take if elder financial abuse is suspected, when reporting is mandatory and when it is voluntary, and what the related reporting liability protections and penalties are and more. Designed specifically for our members, this chart can be used as is – or can be tailored by you to reflect your individual needs (ex. adding your logo);
(3) MBA’s Elder Financial Abuse Reporting Form that may be used to submit elder financial abuse reports. Report is designed to help banks establish documentation of their reporting process, including timeframes. The report comes with a sample cover memo to submit along with the reporting form to the appropriate authorities; and
(4) List of Mandatory Financial Abuse Reporting Laws by State. Over 30 states have mandatory financial abuse reporting laws. To assist our members with operations in multiple states, MBA compiled a list of states with mandatory reporting laws. This information is based on member feedback on various state laws and is intended for information purposes only. Click here to view the list.
These tools were developed with input from our members, legal counsel, MBA’s Security Committee, Maryland’s Department of Aging and Adult Protective Services (APS).
Below is an update on MBA’s compliance tools and related information. Please contact MBA’s Mindy Lehman (443.837.1613) with any questions.
MBA’s Elder Financial Abuse Reporting Form Now Available to All Members FREE of Charge.
We are pleased to announce that MBA’s Reporting Form and the related sample cover memo are now available free of charge. MBA has also shared our Reporting Form with Project SAFE (Stop Adult Financial Exploitation). This is part of a collaborative effort with Project SAFE, the Department of Aging and APS to develop a uniform, statewide reporting form. We are pleased MBA’s reporting form will serve as the blueprint for this. Click here for a copy of the form. Click here to view the sample cover memo.
MBA’s Elder Financial Abuse Reporting Protocol Chart Now Available for Purchase -- Separately from the on-line training program. MBA was contacted by several members that were very interested in obtaining the MBA’s Reporting Protocol Chart and MBA’s Reporting Form, but did not have a need for the complete on-line training program. As a result, MBA’s Reporting Protocol Chart is now available for purchase for $29.99. With the purchase of this form, you will also receive the following helpful documents in one convenient package:
MBA’s Elder Abuse Reporting Form and related Cover Memo;
List of Maryland and National Elder Care and Fraud Websites/Resources
Maryland Local Long Term Care Ombudsman Telephone Numbers
Maryland State’s Attorney’s Offices and Websites; and
Updated and Improved listing for Maryland’s Adult Protective Services Programs (see below for additional information.)
If you are interested in this package, please contact MBA’s Andrea DeVilbiss at 443.837.1606. Click here to read more about MBA’s complete on-line training program.
Greatly Improved Contact List for Adult Protective Service Programs Now Available.
MBA worked closely with the Maryland Department of Aging and APS to compile detailed contact information for APS contacts across the state, including after hours phone numbers, to facilitate the reporting process. This much improved APS listing also provides detailed information about the reporting process in each county. The improved APS contact list will be available next week.
MBA is collaborating with APS and the Department of Aging to see what communications improvements, if any, can be made between APS and financial institutions on cases of suspected elder abuse. This is in response to feedback from our members indicating that, in the past, when suspected cases of financial abuse were made, the related follow-up communications were not always helpful in determining what to do with the customer’s account. If you have an interest in this issue, please contact MBA’s Mindy Lehman (443.837.1613). We will continue to keep you updated as this effort continues.
Project SAFE is updating their Model Reference Manual for Financial Institution Employees to incorporate both MBA’s and the improved APS listing. The updated manual has also been revised to reflect some of the questions raised by MBA, financial institutions, and various stakeholders over the past few months. MBA will send an update once the revised manual is available.
We appreciate all that you do to protect your customers and want to be sure you have the tools you need to comply with Maryland’s new reporting and education requirements. If you have questions about Maryland’s Mandatory Elder Abuse Reporting Law or the related compliance tools, please contact MBA’s Mindy Lehman at 443.837.1613.