meta_id 3283863

On July 1, 2026, Georgia's financial institution transaction hold authority becomes effective under O.C.G.A. §§ 7-1-239.12 through 7-1-239.19. The Georgia Department of Banking and Finance established this framework to combat financial exploitation of disabled and elderly adults by authorizing financial institutions to place holds on transactions where reasonable cause exists to suspect financial abuse. Under the law, financial institutions may place a hold on a transaction if they have reasonable cause to suspect it may involve, facilitate, result in, or contribute to financial exploitation of an eligible adult—defined as any disabled adult (aged 18 or older with mental or physical incapacity, Alzheimer's disease, or dementia) or any elderly adult (aged 65 or older). Holds may also be placed on accounts where an eligible adult is a beneficiary or on accounts of suspected perpetrators. The Department of Human Services or law enforcement agencies may also request holds by providing information demonstrating reasonable cause. Financial institutions must notify all authorized account parties and designated "trusted contacts" within three business days of placing a hold, unless they reasonably believe these individuals participated in the suspected exploitation. Institutions must initiate an investigation and may maintain the hold for up to 15 business days, extendable an additional 15 days if investigation results remain inconclusive but still suggest exploitation. Holds may be released earlier if investigation findings do not support financial exploitation concerns. Financial institutions must develop training policies, conduct annual employee training, and maintain written procedures addressing suspected financial exploitation. The law provides immunity from administrative, criminal, and civil liability for institutions acting in good faith with reasonable care, extending protection to officers, directors, and employees. Institutions should maintain detailed records documenting account holder information, hold placement dates, facts supporting suspicion, and resolution outcomes.