Maryland’s Vulnerable Adult Banking Protection Act: What Credit Unions Need to Know

Is your credit union ready to meet the requirements of Maryland's Vulnerable Adult Banking Protection Act?

The Association is hosting a webinar on Wednesday, September 9 at 10:00 am to help prepare for the new law which takes effect October 1, 2026.

About the Act
The act gives banks and credit unions greater authority to protect adults age 65+ and vulnerable adults from suspected financial exploitation. Key provisions include allowing financial institutions to delay or deny suspicious transactions, permitting institutions to contact a designated trusted contact when exploitation is suspected, and providing liability protection for institutions acting in good faith and with reasonable care.

Webinar Details
Association Vice President of Advocacy Rory Murray will provide an overview of what the law requires, key implementation considerations, and templates to help your credit union prepare.

Tower Federal Credit Union EVP/COO Susan Ralston and Vice President Branch Administration Denise Pope, will share insights on implementing the trusted contact requirement, including best practices and considerations for putting an effective process in place.

Credit unions will gain a clearer understanding of their responsibilities under the Act, implementation insights, and resources to help prepare for compliance.