Enhance Financial Protections/Older Adults.

HB 956 aims to enhance financial protections for disabled adults and North Carolina residents aged 65 or older. It requires financial institutions and electronic fund transfer entities to report to county social services if they observe a pattern of financially harmful behavior or a six-month cessation of communication from these adults. During the period from when such issues are first noted (or a cognitive impairment diagnosis is made) until the report is submitted, these entities are prohibited from charging late fees, other penalties, or interest on loans to the affected adult. This bill amends existing law to ensure late payment charges are subject to these new protections, becoming effective October 1, 2025.