HARRISBURG — Sens. Chris Gebhard (R-48) and Sharif Street (D-3) announced Senate Banking and Insurance Committee passage of legislation they introduced to update Pennsylvania’s Older Adult Protective Services Act to better protect seniors and prevent financial abuse and scams.
“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.”
“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,” said Street. “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.
Senate Bill 738 would require financial institutions to report on suspected cases of elder financial abuse and empower the institutions to hold suspicious financial transactions. An employee, such as a teller, would be required to report to a designated representative of the institution about suspected fraud within two business days. The institution then has five business days to report this transaction to an area agency on aging. Similar legislation has been passed in more than 20 states and has been used as an effective tool to prevent fraud.
The bill includes provisions to streamline communications between organizations and agencies that care for seniors, such as the Pennsylvania Department of Aging. It also increases healthcare efficiency, updates measures related to older adult sexual abuse and provides mandatory reporters with a clear procedure for reporting suspected cases of elder abuse.
The measure now heads to the full Senate for consideration.