North Carolina 2025-2026 Regular Session

North Carolina House Bill H956 Compare Versions

Version 1 (Old)

Version 2 (New)

Old	New		Differences
1	1		GENERAL ASSEMBLY OF NORTH CAROLINA
2	2		SESSION 2025
3		-	H 1
4		-	HOUSE BILL 956
	3	+	H D
	4	+	HOUSE BILL DRH40504-MU-52
	5	+
5	6
6	7
7	8		Short Title: Enhance Financial Protections/Older Adults. (Public)
8		-	Sponsors: Representatives Willis, Wheatley, Campbell, and Eddins (Primary Sponsors).
9		-	For a complete list of sponsors, refer to the North Carolina General Assembly web site.
10		-	Referred to: Judiciary 1, if favorable, Rules, Calendar, and Operations of the House
11		-	April 14, 2025
12		-	H956 -v-1
	9	+	Sponsors: Representative Willis.
	10	+	Referred to:
	11	+
	12	+	DRH40504 -MU-52
13	13		A BILL TO BE ENTITLED 1
14	14		AN ACT TO ENHANCE FINANCIAL PROTECTIONS FOR DISABLED ADULTS AND 2
15	15		OLDER ADULTS. 3
16	16		The General Assembly of North Carolina enacts: 4
17	17		SECTION 1. Chapter 108A of the General Statutes is amended by adding a new 5
18	18		Article to read: 6
19	19		"Article 6B. 7
20	20		"Additional Protections for Disabled Adults and Older Adults. 8
21	21		"§ 108A-118. Definitions. 9
22	22		The following definitions apply in this Article: 10
23	23		(1) Covered entity. – Both of the following: 11
24	24		a. A financial institution, as defined in G.S. 108A-113. 12
25	25		b. An entity involved in facilitating or processing an electronic transfer 13
26	26		of funds using a payment card. 14
27	27		(2) Disabled adult. – Defined in G.S. 108A-101. 15
28	28		(3) Older adult. – An individual 65 years of age or older who resides in this State. 16
29	29		"§ 108A-119. Observation of materially harmful behavior or lack of communication; duty 17
30	30		to report; no late fees or penalties; no interest. 18
31	31		(a) If a covered entity observes or suspects that a disabled adult or older adult is 19
32	32		exhibiting a pattern of behavior that is materially harmful to the adult's own financial well-being, 20
33	33		or if a disabled adult or older adult has ceased all communication with the covered entity for a 21
34	34		period of six months, the covered entity shall report this information to the persons on a list 22
35	35		provided under G.S. 108A-114, if provided, and to the appropriate county department of social 23
36	36		services. The covered entity shall not charge the disabled adult or older adult any late fees or 24
37	37		other penalties during the period beginning with the earliest of the following until the date the 25
38	38		covered entity submits the report: 26
39	39		(1) The date when the covered entity first observed or suspected the materially 27
40	40		harmful pattern of behavior or the date when the adult had ceased all 28
41	41		communication with the covered entity for a period of six months. 29
42	42		(2) If the adult has received a diagnosis of a cognitive impairment and the health 30
43	43		care provider has deemed that the adult is not capable of making sound 31
44	44		financial decisions, the date of the diagnosis. The adult shall submit a copy of 32
45	45		the diagnosis to the covered entity. 33
46	46		(3) If the adult is receiving cognitive care as a resident of an adult care home, as 34
47		-	defined in G.S. 131D-2.1, the date the adult began receiving cognitive care. 35 General Assembly Of North Carolina Session 2025
48		-	Page 2 House Bill 956-First Edition
	47	+	defined in G.S. 131D-2.1, the date the adult began receiving cognitive care. 35
	48	+	H.B. 956
	49	+	Apr 10, 2025
	50	+	HOUSE PRINCIPAL CLERK General Assembly Of North Carolina Session 2025
	51	+	Page 2 DRH40504-MU-52
49	52		(4) If the adult has received a diagnosis of a cognitive impairment and is a resident 1
50	53		of an adult care home, as defined in G.S. 131D-2.1, the date of the diagnosis. 2
51	54		The adult shall submit a copy of the diagnosis to the covered entity. 3
52	55		(b) If a covered entity makes a loan, or extends credit, to the disabled adult or older adult 4
53	56		during the period described in subsection (a) of this section, the covered entity shall not charge 5
54	57		any interest on the loan during that period." 6
55	58		SECTION 2. G.S. 24-10.1 reads as rewritten: 7
56	59		"§ 24-10.1. Late fees. 8
57	60		(a) Subject to the limitations contained in subsection (b) of this section, any lender may 9
58	61		charge a party to a loan or extension of credit governed by G.S. 24-1.1 or G.S. 24-1.1A a late 10
59	62		payment charge as agreed upon by the parties in the loan contract. 11
60	63		(b) All of the following limitations apply to a late payment charge: 12
61	64		… 13
62	65		(7) A late payment charge is subject to the limitations of G.S. 108A-119. 14
63	66		…." 15
64	67		SECTION 3. This act becomes effective October 1, 2025, and applies to late fees, 16
65	68		penalties, and interest charged on or after that date. 17