Common use of FINANCIAL ELDER ABUSE Clause in Contracts

FINANCIAL ELDER ABUSE. Re: Financial Elder Abuse Act SB 1018 You acknowledge that the Credit Union may be obligated to report cases of actual or suspected financial abuse of elders or dependent care adults. If we suspect such financial abuse, you understand and agree that, in addition to reporting such abuse as may be required under law, we have the right to freeze the account, refuse to complete transactions on the account, or to take any other action(s) that we deem appropriate under the circumstances. You agree to indemnify and hold us harmless from and against all claims, actions, damages, liabilities, costs, and expenses, including reasonable attorneys’ fees and expenses, arising out of or related to any action or inaction related to the matters described in this paragraph. You acknowledge that if you give anyone access to your account (for example, providing any person with your check card, ATM card, ATM, Online Banking Password, or granting any person power to act as your agent under a power of attorney or trustee for a trust account), you understand that any transaction completed by such person shall be considered authorized by you.