I 
114TH CONGRESS 
2D SESSION 
H. R. 4538 
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 
A BILL 
To provide immunity from suit for certain individuals who 
disclose potential examples of financial exploitation of 
senior citizens, and for other purposes. 
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— 
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(1) the term ‘‘bank’’ has the meaning given the 
term in section 202(a) of the Investment Advisers 
Act of 1940 (15 U.S.C. 80b–2(a)); 
(2) the term ‘‘broker-dealer’’ means— 
(A) a broker, as defined in section 3(a) of 
the Securities Exchange Act of 1934 (15 
U.S.C. 78c(a)); or 
(B) a dealer, as defined 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; 
(B) each of the Federal financial institu-
tions regulatory agencies; 
(C) a law enforcement agency; and 
(D) the adult protective services agency of 
a State; 
(4) the term ‘‘covered financial institution’’ 
means— 
(A) a bank; 
(B) a credit union; 
(C) an investment adviser; and 
(D) a broker-dealer; 
(5) the term ‘‘credit union’’ has the meaning 
given the term in section 2 of the Dodd-Frank Wall 
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Street Reform and Consumer Protection Act (12 
U.S.C. 5301); 
(6) the term ‘‘exploitation’’ has the meaning 
given the term in section 2011 of the Social Security 
Act (42 U.S.C. 1397j); 
(7) 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); 
(8) 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); and 
(9) the term ‘‘senior citizen’’ means an indi-
vidual who is not less than 65 years of age. 
(b) IMMUNITY FROM SUIT.— 
(1) IMMUNITY
FOR
INDIVIDUALS.—Notwith-
standing section 502 of the Gramm-Leach-Bliley Act 
(15 U.S.C. 6802), including any regulations adopted 
thereunder, an individual who has received the train-
ing described in section 3 shall not be liable, includ-
ing in any civil or administrative proceeding, for dis-
closing the possible exploitation 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, or legal advisor for a covered financial in-
stitution; and 
(B) made the disclosure— 
(i) in good faith; and 
(ii) with reasonable care. 
(2) IMMUNITY FOR COVERED FINANCIAL INSTI-
TUTIONS.—Notwithstanding section 502 of the 
Gramm-Leach-Bliley Act (15 U.S.C. 6802), includ-
ing any regulations adopted thereunder, a covered fi-
nancial institution shall not be liable, including in 
any civil or administrative proceeding, for a disclo-
sure made by an individual described in paragraph 
(1) if— 
(A) the individual was employed by the 
covered financial institution 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 officer or em-
ployee of the covered financial institution de-
scribed in section 3(a). 
SEC. 3. TRAINING REQUIRED. 
(a) IN GENERAL.—A covered financial institution 
may provide training regarding the identification and re-
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porting of the suspected exploitation of a senior citizen 
to each officer or employee of 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 or em-
ployee; 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.—The training required under sub-
section (a) shall be provided as soon as reasonably prac-
ticable but not more than 12 months after the date on 
which an officer or employee begins employment with the 
covered financial institution. 
SEC. 4. PREEMPTION. 
Nothing in this Act shall be construed to preempt or 
limit any provision of State law, to the extent that any 
provision of State law provides a similar or greater level 
of protection against liability to an individual described 
in section 2(b)(1) or a covered financial institution de-
scribed in section 2(b)(2) than is provided under those sec-
tions. 
Æ 
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