Today's Law As Amended

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AB-2159 Financial abuse.(2017-2018)

As Amends the Law Today


 Section 15630.2 is added to the Welfare and Institutions Code, to read:

 (a) A money transmitter shall do all of the following:
(1) Provide a clear, concise, and conspicuous consumer fraud warning on all money transmittal forms used by consumers to send money to an individual.
(2) Provide consumer fraud prevention training for its agents who process money transmittals.
(3) Monitor its agents’ activities relating to consumer transmittals.
(4) Establish a toll-free number for consumers to call to report fraud or suspected fraud.
(b) A money transmitter that originates money transfers in this state shall allow an individual to voluntarily disqualify himself or herself from sending or receiving money transfers. The disqualification shall last for one year, unless the individual requests that the disqualification be in effect for a period longer than one year. The individual may terminate the disqualification at any time upon written notice to the money transmitter.
(c) Failure to implement the fraud prevention measures by a money transmitter under this section shall be subject to a civil penalty not exceeding one thousand dollars ($1,000), or if the failure to implement is willful, a civil penalty not exceeding five thousand dollars ($5,000), which shall be paid by the money transmitter to the party bringing the action.
(d) Subdivision (h) of Section 15630 does not apply to a violation of this section.
(e) The civil penalty provided for in subdivision (c) shall be recovered only in a civil action brought against the money transmitter by the Attorney General, district attorney, or county counsel. An action shall not be brought under this section by any person other than the Attorney General, district attorney, or county counsel. Multiple actions for a civil penalty shall not be brought for the same violation.
(f) The Financial Elder Abuse Reporting Act of 2005, enacted by Senate Bill 1018 of the 2005–06 Regular Session, shall not be construed to limit, expand, or otherwise modify any civil liability or remedy that may exist under this or any other law.