Georgia HB 945 Lets Banks Freeze Suspicious Transfers for Up to 30 Days
Updated
Updated · Fox News · Jul 17
Georgia HB 945 Lets Banks Freeze Suspicious Transfers for Up to 30 Days
1 articles · Updated · Fox News · Jul 17
Summary
Georgia's HB 945 took effect July 1, allowing banks and credit unions to place holds on transactions they reasonably suspect exploit adults 65 and older or people with qualifying incapacities.
The hold lasts 15 business days and can be extended another 15, while banks must review the case, notify authorized parties or trusted contacts within three business days, and train staff before using the power.
The law can reach an eligible adult's account, an account where that adult is a beneficiary, and in some cases an account held by a suspected exploiter, though institutions are permitted—not required—to act.
At least 33 states now have some form of transaction-hold protection, but rules vary widely on who is covered, whether agencies must be notified, and how long a payment can be delayed.
That patchwork matters because federal law encourages reporting elder exploitation but does not create a nationwide rule for checking and savings accounts, leaving protection dependent on state law and bank policy.