Sec. 3. Training
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/bill/115/hr/3758/rh/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A covered financial institution or a third party selected by a covered financial institution may provide the training described in subsection (b)(1) to each officer or employee of, or registered representative, insurance producer, or investment adviser representative affiliated or associated with, the covered financial institution who— is described in section 2(b)(1)(A); may come into contact with a senior citizen as a regular part of the professional duties of the individual; or may review or approve the financial documents, records, or transactions of a senior citizen in connection with providing financial services to a senior citizen.
The content of the training that a covered financial institution or a third party selected by the covered financial institution may provide under subsection
(a)shall— be maintained by the covered financial institution and made available to a covered agency with examination authority over the covered financial institution, upon request, except that a covered financial institution shall not be required to maintain or make available such content with respect to any individual who is no longer employed by or affiliated or associated with the covered financial institution; instruct any individual attending the training on how to identify and report the suspected exploitation of a senior citizen internally and, as appropriate, to government officials or law enforcement authorities, including common signs that indicate the financial exploitation of a senior citizen; discuss the need to protect the privacy and respect the integrity of each individual customer of the covered financial institution; and be appropriate to the job responsibilities of the individual attending the training. The training under subsection
(a)shall be provided— as soon as reasonably practicable; and with respect to an individual who begins employment with or becomes affiliated or associated with a covered financial institution after the date of enactment of this Act, not later than 1 year after the individual becomes employed by or affiliated or associated with the covered financial institution in a position described in paragraph (1), (2), or
(3)of subsection (a). A covered financial institution shall— maintain a record of each individual who— is employed by or affiliated or associated with the covered financial institution in a position described in paragraph (1), (2), or
(3)of subsection (a); and has completed the training under subsection (a), regardless of whether the training was— provided by the covered financial institution or a third party selected by the covered financial institution; completed before the individual was employed by or affiliated or associated with the covered financial institution; and completed before, on, or after the date of enactment of this Act; and upon request, provide a record described in subparagraph
(A)to a covered agency with examination authority over the covered financial institution.