John Bratsakis Joins WMAR’s Mallory Sofastaii to Discuss Consumer Protection

Our CEO, John Bratsakis, recently participated in a WMAR-2 News interview discussing Maryland's new Vulnerable Adult Banking Protection Act.

The new law, House Bill 1008, gives financial institutions-including credit unions-the ability to temporarily pause or delay suspicious transactions involving older and vulnerable adults when potential fraud is suspected. The goal is to provide a critical window of time to intervene in high-pressure scam situations and help prevent significant financial loss.

During the interview, Bratsakis highlighted the importance of protecting members and shared how credit unions are already working to identify and stop fraudulent activity before funds are lost. He also emphasized the role of "trusted contacts," which allow institutions to notify a designated individual if suspicious activity is detected-without granting them access to the account.

The legislation reflects a broader commitment across the credit union system to strengthen safeguards against financial exploitation while preserving member trust and autonomy.