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Nguyen’s Senior Scam Protection Legislation Advances

For immediate release:

SACRAMENTO, CA – Assembly Bill 386, authored by Assemblymember Stephanie Nguyen (D-Elk Grove) was approved on a unanimous 7-0 bi-partisan vote on Wednesday, June 21, 2023 by the California State Senate Committee on Banking and Financial Institutions. The bill aims to curtail rampant financial attacks against seniors by ensuring the California Department of Justice (DOJ) has the necessary tools to conduct a thorough investigation to identify an alleged scam.

“Scammers are becoming more brazen in their attempts to extort and take financial advantage of seniors,” said Assemblymember Stephanie Nguyen. “We’ve all received calls or text message scams, unfortunately, many of our seniors have difficulty identifying if it is a scam or not, making them a prime target for financial abuse.”

Current law allows DOJ investigators access to a victims financial records 30 days prior and 30 days following the alleged act of abuse. AB 386 will extend access to financial records to 90 days prior and after, providing investigator the ability to identify normal spending habits of the victim and detect the alleged act of fraud.

It is estimated that by 2030, one in five Californians will be age 65 or older - double what the over-65 population is today. AB 386 will ensure that as our 65 or older population continues to increase, that California is taking the necessary steps to protect their financial security.

AB 386 is sponsored by the County Welfare Directors Association and will next be heard be the California State Senate.

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Assemblymember Stephanie Nguyen represents the Cities of Sacramento and Elk Grove