Illinois Administrative Code
Title 89 - SOCIAL SERVICES
Part 271 - JOINT RULES OF THE DEPARTMENT ON AGING AND THE DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION: FINANCIAL EXPLOITATION TRAINING BY FINANCIAL INSTITUTIONS
Section 271.100 - Purpose

Universal Citation: 89 IL Admin Code ยง 271.100

Current through Register Vol. 48, No. 38, September 20, 2024

The purpose of this Part is to implement Public Act 96-1103 by providing for the training of the employees and officers of financial institutions who have direct customer contact in the proper recognition and reporting of suspected financial exploitation of older persons.

a) The Department on Aging is responsible for developing minimum standards for financial exploitation training by financial institutions.

b) The Department of Financial and Professional Regulation is responsible for ensuring compliance with the minimum standards for financial exploitation training by financial institutions subject to its jurisdiction, including gathering statistics, providing reports and retaining visitation and enforcement authority in relation to the regulation of these institutions.

c) Both agencies will work together to develop and implement these joint rules.

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