republic-os/legislation/us/states/va/2024/sb-174.md

---
type: "Bill"
title: "Financial institutions; reporting financial exploitation of elderly or vulnerable adults."
description: "Financial institutions; reporting financial exploitation of elderly or vulnerable adults. Permits a financial institution to allow an elderly or vulnerable adult, as defined in the bill, to submit and periodically update a list of trusted persons whom such financial institution or financial institution staff, as defined in the bill, may contact in the case of the suspected financial exploitation of such adult. The bill also permits a financial institution to conduct a training to instruct its staff on how to identify and report the suspected financial exploitation of an elderly or vulnerable adult internally at such financial institution, to a designated trusted contact, and to various other authorities. The bill directs the Bureau of Financial Institutions of the State Corporation Commission to develop and publish guidelines for such training by January 1, 2026. The bill provides that no financial institution staff that have received such training shall be liable in any civil or administrative proceeding for disclosing the suspected financial exploitation of an elderly or vulnerable adult pursuant to the bill's provisions if such disclosure was made in good faith and with reasonable care. The bill provides that no financial institution that has provided such training shall be liable for any such disclosure by financial institution staff. This bill is identical to HB 692."
jurisdiction: "us/states/va"
legislature: "Virginia General Assembly"
session: "2024"
identifier: "SB 174"
citation: "Virginia SB 174 (2024)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: ["Barbara A. Favola"]
version_count: 5
action_count: 40
vote_count: 6
first_action: "2024-01-08"
last_action: "2024-04-05"
source: "openstates"
source_identifier: "ocd-bill/31c2eb21-2732-4092-b2ad-6cbe25364534"
source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+SB174"
source_hash: "b4bc40f883e8131a3b1415e201ac2b550947f826e62a02f9bff54d118a039868"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-va"]
---

# Virginia SB 174 (2024) — Financial institutions; reporting financial exploitation of elderly or vulnerable adults.

Financial institutions; reporting financial exploitation of elderly or vulnerable adults. Permits a financial institution to allow an elderly or vulnerable adult, as defined in the bill, to submit and periodically update a list of trusted persons whom such financial institution or financial institution staff, as defined in the bill, may contact in the case of the suspected financial exploitation of such adult. The bill also permits a financial institution to conduct a training to instruct its staff on how to identify and report the suspected financial exploitation of an elderly or vulnerable adult internally at such financial institution, to a designated trusted contact, and to various other authorities. The bill directs the Bureau of Financial Institutions of the State Corporation Commission to develop and publish guidelines for such training by January 1, 2026. The bill provides that no financial institution staff that have received such training shall be liable in any civil or administrative proceeding for disclosing the suspected financial exploitation of an elderly or vulnerable adult pursuant to the bill's provisions if such disclosure was made in good faith and with reasonable care. The bill provides that no financial institution that has provided such training shall be liable for any such disclosure by financial institution staff. This bill is identical to HB 692.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **CHAP0578** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+CHAP0578)
2. **Committee substitute printed 24106027D-S1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB174S1)
3. **Committee substitute printed 24107880D-H1** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB174H1)
4. **Prefiled and ordered printed; offered 01/10/24 24101504D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB174)
5. **SB174ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+SB174ER)

## Votes

- Reported from Labor and Commerce with substitute (22-Y 0-N) — **22–0** (pass) · lower
- VOTE: Passage (96-Y 0-N) — **95–0** (pass) · lower
- Reported from Commerce and Labor with substitute (15-Y 0-N) — **15–0** (pass) · upper
- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
- Read third time and passed Senate (38-Y 0-N) — **38–0** (pass) · upper
- House substitute with amendment agreed to by Senate (39-Y 0-N) — **39–0** (pass) · upper

## Sponsors

- Barbara A. Favola — primary (person)
- Angelia Williams Graves — cosponsor (person)
- Michelle Lopes Maldonado — cosponsor (person)
- Scott A. Surovell — cosponsor (person)
- Tara A. Durant — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-01-08** Prefiled and ordered printed; offered 01/10/24 24101504D `filing, introduction`
- **2024-01-08** Referred to Committee on Commerce and Labor `referral-committee`
- **2024-01-15** Impact statement from SCC (SB174)
- **2024-01-22** Senate committee, floor amendments and substitutes offered
- **2024-01-22** Reported from Commerce and Labor with substitute (15-Y 0-N) `committee-passage`
- **2024-01-22** Committee substitute printed 24106027D-S1 `substitution`
- **2024-01-23** Senate committee, floor amendments and substitutes offered
- **2024-01-24** Constitutional reading dispensed (40-Y 0-N)
- **2024-01-25** Read second time `reading-2`
- **2024-01-25** Reading of substitute waived
- **2024-01-25** Committee substitute agreed to 24106027D-S1 `substitution`
- **2024-01-25** Engrossed by Senate - committee substitute SB174S1 `substitution`
- **2024-01-26** Read third time and passed Senate (38-Y 0-N) `passage, reading-3`
- **2024-02-13** Placed on Calendar
- **2024-02-13** Read first time `reading-1`
- **2024-02-13** Referred to Committee on Labor and Commerce `referral-committee`
- **2024-02-16** Impact statement from SCC (SB174S1)
- **2024-02-20** House committee, floor amendments and substitutes offered
- **2024-02-20** Reported from Labor and Commerce with substitute (22-Y 0-N) `committee-passage`
- **2024-02-20** Committee substitute printed 24107880D-H1 `substitution`
- **2024-02-22** Read second time `reading-2`
- **2024-02-23** House committee, floor amendments and substitutes offered
- **2024-02-23** Read third time `reading-3`
- **2024-02-23** Committee substitute agreed to 24107880D-H1 `substitution`
- **2024-02-23** Amendment by Delegate Maldonado agreed to `amendment-passage`
- **2024-02-23** Engrossed by House - committee substitute with amendment SB174H1 `substitution`
- **2024-02-23** Passed House with substitute with amendment (96-Y 0-N) `passage`
- **2024-02-23** VOTE: Passage (96-Y 0-N) `passage`
- **2024-02-27** House substitute with amendment agreed to by Senate (39-Y 0-N) `amendment-passage, substitution`
- **2024-02-27** Title replaced 24107880D-H1
- **2024-03-04** Enrolled `enrolled`
- **2024-03-04** Bill text as passed Senate and House (SB174ER) `passage`
- **2024-03-04** Signed by Speaker `passage`
- **2024-03-05** Impact statement from SCC (SB174H1)
- **2024-03-07** Signed by President `passage`
- **2024-03-08** Impact statement from SCC (SB174ER)
- **2024-03-11** Enrolled Bill Communicated to Governor on March 11, 2024 `enrolled`
- **2024-03-11** Governor's Action Deadline 11:59 p.m., April 8, 2024 `executive-receipt`
- **2024-04-05** Approved by Governor-Chapter 578 (effective 7/1/24) `executive-signature`
- **2024-04-05** Acts of Assembly Chapter text (CHAP0578)

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/31c2eb21-2732-4092-b2ad-6cbe25364534`. Confidence: reported (aggregated from official Virginia legislature records).