FIRSTREGULARSESSION
HOUSEBILLNO.229
103RDGENERALASSEMBLY
INTRODUCEDBYREPRESENTATIVEO'DONNELL.
1268H.01I DANARADEMANMILLER,ChiefClerk
ANACT
Toamendchapters362and370,RSMo,byaddingtheretotwonewsectionsrelatingto
financialinstitutions.
BeitenactedbytheGeneralAssemblyofthestateofMissouri,asfollows:
SectionA.Chapters362and370,RSMo,areamendedbyaddingtheretotwonew
2sections,tobeknownassections362.424and370.245,toreadasfollows:
362.424.1.Forpurposesofthissection,thefollowingtermsmean:
2 (1)"Bank",includesanystateorfederallycharteredbank,savingsbank,or
3savingsandloanassociationprovidingbankingservicestocustomers;
4 (2)"Trustedcontact",anyadultpersondesignatedbyabankcustomerthata
5bankmaycontactintheeventofanemergencyorlossofcontactwiththecustomer,or
6suspectedthirdpartyfraudorfinancialexploitationtargetingthecustomer.
7 2.Notwithstandinganyotherprovisionoflaw,anybankmayreportsuspected
8fraudulentactivityorfinancialexploitationtargetinganyofitscustomerstoafederal,
9state,county,ormunicipallawenforcementagencyoranyappropriatepublicprotective
10agencyandshallbeimmunefromcivilliabilityindoingso.
11 3.Notwithstandinganyotherprovisionoflawtothecontrary,anybank,ona
12voluntarybasis,mayofferatrustedcontactprogramtocustomerswhomaydesignate
13oneormoretrustedcontactsforthebanktocontactintheeventacustomerisnot
14responsivetobankcommunications,thebankispresentedwithanurgentmatteror
15emergencyinvolvingthecustomerandthebankisunabletolocatethecustomer,orthe
16banksuspectsfraudulentactivityorfinancialexploitationtargetingthecustomerorthe
17accounthasbeendeemeddormantandthebankisattemptingtoverifythestatusand
EXPLANATION—Matterenclosedinbold-facedbrackets[thus] intheabovebillisnotenactedandis
intendedtobeomittedfromthelaw.Matterinbold-facetypeintheabovebillisproposedlanguage. 18locationofthecustomer.Thebankmayestablishsuchprocedures,requirements,and
19formsasitdeemsappropriateandnecessaryshouldthebankopttoimplementatrusted
20contactprogram.
21 4.Notwithstandinganyotherprovisionoflawtothecontrary,anybankmay
22voluntarilyoffercustomersanaccountwithconvenienceandsecurityfeaturesthatset
23transactionlimitsandpermitlimitedaccesstoviewaccountactivityforoneormore
24trustedcontactsdesignatedbythecustomer.
25 5.Nobankshallbeliablefortheactionsofatrustedcontact.
26 6.Nobankshallbeliablefordecliningtointeractwithatrustedcontactwhen
27thebank,ingoodfaithandexercisingreasonablecare,determinesthatatrustedcontact
28isnotactinginthebestinterestsofthecustomer.
29 7.Apersondesignatedbyacustomerasatrustedcontactwhoactsingoodfaith
30andexercisesreasonablecareshallbeimmunefromliability.
31 8.Acustomermaywithdrawanyappointmentofapersonasatrustedcontactat
32anytimeandanytrustedcontactmaywithdrawfromstatusasatrustedcontactatany
33time.Thebankmayrequiresuchdocumentationorverificationasitdeemsnecessaryto
34establishthewithdrawalorterminationofatrustedcontact.
35 9.Nobankshallbecivillyliableforimplementingornotimplementingorfor
36actionsoromissionsrelatedtoprovidingoradministeringatrustedcontactprogram.
370.245.1.Forpurposesofthissection,thefollowingtermsmean:
2 (1)"Creditunion",anystateorfederallycharteredcreditunionproviding
3financialservicestomembers;
4 (2)"Trustedcontact",anyadultpersondesignatedbyacreditunionmember
5thatacreditunionmaycontactintheeventofanemergencyorlossofcontactwiththe
6member,orsuspectedthirdpartyfraudorfinancialexploitationtargetingthemember.
7 2.Notwithstandinganyotherprovisionoflaw,anycreditunionmayreport
8suspectedfraudulentactivityorfinancialexploitationtargetinganyofitsmemberstoa
9federal,state,county,ormunicipallawenforcementagencyoranyappropriatepublic
10protectiveagencyandshallbeimmunefromcivilliabilityindoingso.
11 3.Notwithstandinganyotherprovisionoflawtothecontrary,anycreditunion,
12onavoluntarybasis,mayofferatrustedcontactprogramtomemberswhomay
13designateoneormoretrustedcontactsforthecredituniontocontactintheeventa
14memberisnotresponsivetocreditunioncommunications,thecreditunionispresented
15withanurgentmatteroremergencyinvolvingthememberandthecreditunionis
16unabletolocatethemember,orthecreditunionsuspectsfraudulentactivityorfinancial
17exploitationtargetingthememberortheaccounthasbeendeemeddormantandthe
18creditunionisattemptingtoverifythestatusandlocationofthemember.Thecredit
HB229 2 19unionmayestablishsuchprocedures,requirements,andformsasitdeemsappropriate
20andnecessaryshouldthecreditunionopttoimplementatrustedcontactprogram.
21 4.Notwithstandinganyotherprovisionoflawtothecontrary,anycreditunion
22mayvoluntarilyoffermembersanaccountwithconvenienceandsecurityfeaturesthat
23settransactionlimitsandpermitlimitedaccesstoviewaccountactivityforoneormore
24trustedcontactsdesignatedbythemember.
25 5.Nocreditunionshallbeliablefortheactionsofatrustedcontact.
26 6.Nocreditunionshallbeliablefordecliningtointeractwithatrustedcontact
27whenthecreditunion,ingoodfaithandexercisingreasonablecare,determinesthata
28trustedcontactisnotactinginthebestinterestsofthemember.
29 7.Apersondesignatedbyamemberasatrustedcontactwhoactsingoodfaith
30andexercisesreasonablecareshallbeimmunefromliability.
31 8.Amembermaywithdrawanyappointmentofapersonasatrustedcontactat
32anytimeandanytrustedcontactmaywithdrawfromstatusasatrustedcontactatany
33time.Thecreditunionmayrequiresuchdocumentationorverificationasitdeems
34necessarytoestablishthewithdrawalorterminationofatrustedcontact.
35 9.Nocreditunionshallbecivillyliableforimplementingornotimplementingor
36foractionsoromissionsrelatedtoprovidingoradministeringatrustedcontact
37program.
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HB229 3