Louisiana Bankers Association supports bill against elderly financial exploitation

May 28, 2025 | 2025 Legislature LA, Louisiana


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Louisiana Bankers Association supports bill against elderly financial exploitation
The Senate Judiciary C meeting on May 28, 2025, focused on a significant legislative proposal aimed at combating the rising issue of financial exploitation of the elderly. David Benino, representing the Louisiana Bankers Association, expressed strong support for the bill, highlighting the increasing incidents of such exploitation within the banking sector.

Benino emphasized the collaborative efforts between the banking industry and the District Attorneys' Association to develop strategies that empower law enforcement with additional tools to tackle this growing problem. He noted that the rise in financial exploitation is exacerbated by advancements in technology, making it easier for perpetrators to target vulnerable individuals, particularly the elderly.

During the discussion, Senator Barrow raised concerns about tracking individuals who exploit the elderly, questioning how law enforcement identifies and monitors these offenders. Benino acknowledged the complexity of this issue and suggested that law enforcement would be better positioned to provide insights on tracking methods.

As the meeting progressed, there was a consensus on the urgency of addressing this issue, with Benino indicating readiness to move the bill forward for a favorable report. The discussions underscored the critical need for legislative action to protect vulnerable populations from financial crimes, reflecting a growing awareness of the challenges posed by modern technology in facilitating such exploitation.

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