The Senate Banking and Insurance Committee has advanced legislation that would update Pennsylvania’s Older Adult Protective Services Act, according to an announcement Wednesday by Sens. Chris Gebhard (R-48) and Sharif Street (D-3).
Senate Bill 738 would require financial institutions to report suspected cases of elder financial abuse and allow them to hold suspicious transactions. Under the measure, employees such as tellers would be required to report suspected fraud to a designated institutional representative within two business days. The institution would then have five business days to report the transaction to an area agency on aging.
“Older Pennsylvanians are among our most vulnerable citizens, and we have seen an alarming rise in financial exploitation targeting them,” said Gebhard. “We have also seen inadequacies in our current laws to protect seniors from abuse and exploitation. This bill aims to improve the delivery of resources, streamline services for older adults and empower financial institutions to help prevent scams before they happen.”
Street said, “With changes in technology come more elaborate ways in which people can be exploited. As the most vulnerable target, it is our responsibility to protect older Pennsylvanians and their resources. By providing a blueprint to protect our elders we can better protect their financial security, preserve their independence and hold those who attempt to prey on vulnerable adults accountable.”
The FBI ranked Pennsylvania ninth in total losses to fraud experienced by older adults in 2025. More than 7,000 seniors were defrauded of more than $200 million, representing a 43% jump from 2024.
The bill also includes provisions to streamline communications between organizations and agencies that care for seniors, such as the Pennsylvania Department of Aging. It increases healthcare efficiency, updates measures related to older adult sexual abuse and provides mandatory reporters with procedures for reporting suspected cases of elder abuse.
Similar legislation has been passed in more than 20 states. The measure now heads to the full Senate for consideration.
