Janie Wynn Protecting Elders from Financial Exploitation Act

This bill requires credit card issuers and financial institutions to implement specific protections for senior citizens (65+) against financial exploitation. Card issuers must provide fraud alerts to seniors and a selected contact person (25+ and related or identified) when activating pre-approved credit cards, while banks/credit unions must train staff to spot exploitation signs and notify seniors within 24 hours of suspicious activity like unusual ATM use, large gift card purchases, or sudden account changes. The law lists 12 specific red flags that trigger these notifications, such as irregular cash withdrawals or new authorized users. Seniors may waive the contact alert requirement if they sign a written acknowledgment of increased risk, which issuers must retain for five years.