SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Senior Safe Act of 
2016’’. 
SEC. 2. IMMUNITY. 
(a) DEFINITIONS.—In this Act— 
(1) the term ‘‘Bank Secrecy Act Officer’’ means 
an individual responsible for ensuring compliance 
with the requirements mandated by subchapter II of 
chapter 53 of title 31, United States Code; 
(2) the term ‘‘broker-dealer’’ means a broker or 
dealer, as those terms are defined, respectively, in 
section 3(a) of the Securities Exchange Act of 1934 
(15 U.S.C. 78c(a)); 
(3) the term ‘‘covered agency’’ means— 
(A) a State financial regulatory agency, in-
cluding a State securities or law enforcement 
authority and a State insurance regulator; 
(B) each of the Federal financial institu-
tions regulatory agencies; 
(C) the Securities and Exchange Commis-
sion; 
(D) a law enforcement agency; 
(E) and State or local agency responsible 
for administering adult protective service laws; 
and 
(F) a State attorney general.
(4) the term ‘‘covered financial institution’’ 
means— 
(A) a credit union; 
(B) a depository institution; 
(C) an investment advisor; 
(D) a broker-dealer; 
(E) an insurance company; and 
(F) a State attorney general. 
(5) the term ‘‘credit union’’ means a Federal 
credit union, State credit union, or State-chartered 
credit union, as those terms are defined in section 
101 of the Federal Credit Union Act (12 U.S.C. 
1752); 
(6) the term ‘‘depository institution’’ has the 
meaning given the term in section 3(c) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1813(c)); 
(7) the term ‘‘exploitation’’ means the fraudu-
lent or otherwise illegal, unauthorized, or improper 
act or process of an individual, including a caregiver 
or fiduciary, that— 
(A) uses the resources of a senior citizen 
for monetary personal benefit, profit, or gain; 
or
(B) results in depriving a senior citizen of 
rightful access to or use of benefits, resources, 
belongings or assets; 
(8) the term ‘‘Federal financial institutions reg-
ulatory agencies’’ has the meaning given the term in 
section 1003 of the Federal Financial Institutions 
Examination Council Act of 1978 (12 U.S.C. 3302); 
(9) the term ‘‘investment adviser’’ has the 
meaning given the term in section 202 of the Invest-
ment Advisers Act of 1940 (15 U.S.C. 80b–2); 
(10) the term ‘‘insurance company’’ has the 
meaning given the term in section 2(a) of the Invest-
ment Company Act of 1940 (15 U.S.C. 80a–2(a)); 
(11) the term ‘‘registered representative’’ 
means an individual who represents a broker-dealer 
in effecting or attempting to affect a purchase or 
sale of securities; 
(12) the term ‘‘senior citizen’’ means an indi-
vidual who is not less than 65 years of age; 
(13) the term ‘‘State insurance regulator’’ has 
the meaning given such term in section 315 of the 
Gramm-Leach-Bliley Act (15 U.S.C. 6735); and 
(14) the term ‘‘State securities or law enforce-
ment authority’’ has the meaning given the term in
section 24(f)(4) of the Securities Exchange Act of 
1934 (15 U.S.C. 78x(f)(4)). 
(b) IMMUNITY FROM SUIT.— 
(1) IMMUNITY
FOR
INDIVIDUALS.—An indi-
vidual who has received the training described in 
section 3 shall not be liable, including in any civil or 
administrative proceeding, for disclosing the possible 
exploitation of a senior citizen to a covered agency 
if the individual, at the time of the disclosure— 
(A) served as a supervisor, compliance offi-
cer (including a Bank Secrecy Act Officer), or 
registered representative for a covered financial 
institution; and 
(B) made the disclosure with reasonable 
care including reasonable efforts to avoid disclo-
sure other than to a covered agency. 
(2) IMMUNITY FOR COVERED FINANCIAL INSTI-
TUTIONS.—A covered financial institution shall not 
be liable, including in any civil or administrative pro-
ceeding, for a disclosure made by an individual de-
scribed in paragraph (1) if— 
(A) the individual was employed by, or, in 
the case of a registered representative, affiliated 
or associated with, the covered financial institu-
tion at the time of the disclosure; and
(B) before the time of the disclosure, the 
covered financial institution provided the train-
ing described in section 3 to each individual de-
scribed in section 3(a). 
SEC. 3. TRAINING REQUIRED. 
(a) IN GENERAL.—A covered financial institution 
may provide training described in subsection (b)(1) to 
each officer or employee of, or registered representative 
affiliated or associated with, the covered financial institu-
tion who— 
(1) is described in section 2(b)(1)(A); 
(2) may come into contact with a senior citizen 
as a regular part of the duties of the officer, em-
ployee, or registered representative; or 
(3) may review or approve the financial docu-
ments, records, or transactions of a senior citizen in 
connection with providing financial services to a sen-
ior citizen. 
(b) TRAINING.— 
(1) IN
GENERAL.—The training described in 
this paragraph shall— 
(A) instruct any individual attending the 
training on how to identify and report the sus-
pected exploitation of a senior citizen;
(B) discuss the need to protect the privacy 
and respect the integrity of each individual cus-
tomer of a covered financial institution; and 
(C) be appropriate to the job responsibil-
ities of the individual attending the training. 
(2) TIMING.—The training required under sub-
section (a) shall be provided as soon as reasonably 
practicable but not later than 1 year after the date 
on which an officer, employee, or registered rep-
resentative begins employment with or becomes af-
filiated or associated with the covered financial insti-
tution. 
(3) BANK
SECRECY
ACT
OFFICER.—An indi-
vidual who is designated as a compliance officer 
under an anti-money laundering program established 
pursuant to section 5318(h) of title 31, United 
States Code, shall be deemed to have received the 
training described under this subsection. 
SEC. 4. RELATIONSHIP TO STATE LAW. 
Nothing in this Act shall be construed to preempt or 
limit any provision of State law, except only to the extent 
that section 2 provides a greater level of protection against 
liability to an individual described in section 2(b)(1) or
to a covered financial institution described in section 
2(b)(2) than is provided under State law. 
Passed the House of Representatives July 5, 2016. 
Attest: 
Clerk.