IB 
Union Calendar No. 510 
114TH CONGRESS 
2D SESSION 
H. R. 4538 
[Report No. 114–659] 
To provide immunity from suit for certain individuals who disclose potential 
examples of financial exploitation of senior citizens, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 11, 2016 
Ms. SINEMA (for herself, Mr. POLIQUIN, Mr. MULVANEY, and Mr. MURPHY 
of Florida) introduced the following bill; which was referred to the Com-
mittee on Financial Services 
JULY 5, 2016 
Additional sponsors: Ms. MCSALLY, Mr. KING of New York, Ms. PINGREE, 
Mr. HULTGREN, Mr. BEYER, Mr. PEARCE, Mr. CURBELO of Florida, 
Mrs. WAGNER, Mr. POSEY, Mr. YOUNG of Iowa, Mr. RENACCI, and Ms. 
WASSERMAN SCHULTZ 
JULY 5, 2016 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on February 11, 2016] 
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A BILL 
To provide immunity from suit for certain individuals who 
disclose potential examples of financial exploitation of 
senior citizens, and for other purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Senior$afe 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 sec-
tion 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 au-
thority; 
(B) each of the Federal financial institu-
tions regulatory agencies; 
(C) the Securities and Exchange Commis-
sion; 
(D) a law enforcement agency; and 
(E) and State or local agency responsible 
for administering adult protective service laws; 
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(4) the term ‘‘covered financial institution’’ 
means— 
(A) a credit union; 
(B) a depository institution; 
(C) an investment advisor; 
(D) a broker-dealer; and 
(E) an insurance company; 
(5) the term ‘‘credit union’’ has the meaning 
given that term in section 2 of the Dodd-Frank Wall 
Street Reform and Consumer Protection Act (12 
U.S.C. 5301); 
(6) the term ‘‘depository institution’’ has the 
meaning given the term in section 3(a) of the Federal 
Deposit Insurance Act (12 U.S.C. 1813(a)); 
(7) the term ‘‘exploitation’’ means the fraudulent 
or otherwise illegal, unauthorized, or improper act or 
process of an individual, including a caregiver or fi-
duciary, 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, be-
longings or assets; 
(8) the term ‘‘Federal financial institutions reg-
ulatory agencies’’ has the meaning given the term in 
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section 1003 of the Federal Financial Institutions Ex-
amination Council Act of 1978 (12 U.S.C. 3302); 
(9) the term ‘‘investment adviser’’ has the mean-
ing given the term in section 202 of the Investment 
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 effect-
ing or attempting to affect a purchase or sale of secu-
rities; 
(12) the term ‘‘senior citizen’’ means an indi-
vidual who is not less than 65 years of age; and 
(13) 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 individual 
who has received the training described in section 3 
shall not be liable, including in any civil or adminis-
trative proceeding, for disclosing the possible exploi-
tation of a senior citizen to a covered agency if the 
individual, at the time of the disclosure— 
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(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 INSTITU-
TIONS.—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 cov-
ered financial institution provided the training 
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 institution who— 
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