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Vulnerable Adult Financial Exploitation Banking

Concerning the protection of vulnerable adults from financial exploitation in relation to financial institutions.

HB26-1110 2026 Regular Session Signed into Law Financial Services & Commerce

Cost estimates

At the first note read
$0
FACT February 20, 2026
At the last note read
$0
FACT August 25, 2026
What it actually cost
not published
No Colorado source reports spending for one bill

Every figure here is an estimate by Legislative Council Staff on the date shown, about the version of the bill in front of them that day. It is not a cost.

The appropriation

The note states no appropriation is required.

An appropriation is money the legislature sets aside. It is not money spent.

The appropriation field, read from the note: No appropriation is required.

Bill summary

     The act creates the 'Adults' Security and Safeguards from Exploitation in Transactions Act' or the 'ASSET Act'. The act requires or authorizes a qualified individual at a bank or credit union (financial institution) to do the following when the individual reasonably and in good faith suspects that a vulnerable adult is the victim of financial exploitation:

  • The qualified individual must notify appropriate local law enforcement or the county agency handling adult protective services; and
  • The qualified individual may notify a third party previously designated by or reasonably associated with the vulnerable adult.

     A financial institution or qualified individual may delay a disbursement from an account if the financial institution or qualified individual:

  • Reasonably believes that the vulnerable adult is subject to financial exploitation;
  • Provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account within 2 business days after the requested disbursement; except that a party who is reasonably believed to have engaged in financial exploitation of the vulnerable adult need not be notified; and
  • Continues its internal review of the suspected or attempted financial exploitation.

     The delay may continue until:

  • The financial institution or qualified individual reasonably believes that the vulnerable adult is not subject to financial exploitation;
  • Local law enforcement or the county agency handling adult protective services concludes its investigation; or
  • A court orders that the delay be removed.

     A financial institution or qualified individual must make a determination within 90 days after beginning the delay of a disbursement or, if waiting on the investigation of local law enforcement or a county agency handling adult protective services, within 180 days. The disbursement must be made or refused based on the conclusions of the investigation or the expiration of the time.

     A financial institution and qualified individual are immune from liability arising from the actions or from failing to take the actions authorized in the act if the act or failure to act was made in good faith and exercising reasonable care.

     A financial institution must provide access to or copies of records that are relevant to the suspected or attempted financial exploitation of an vulnerable adult to agencies charged with administering state adult protective services laws and to law enforcement. The records made available to agencies are not public records, as defined in the 'Colorado Open Records Act'.

FACT Bill summary by Colorado Legislative Council Staff, read 2026-09-23. Printed as published, word for word. Source: leg.colorado.gov (opens in a new tab)