Tex.
Fin. Code Section 281.005
Immunity
(a)
An employee of a financial institution who makes a notification under Section 281.002 (Reporting Suspected Financial Exploitation of Vulnerable Adults)(a), a financial institution that submits a report under Section 281.002 (Reporting Suspected Financial Exploitation of Vulnerable Adults)(b) or makes a notification to a third party under Section 281.003 (Notifying Third Parties of Suspected Financial Exploitation of Vulnerable Adults), or an employee who or financial institution that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the employee or financial institution acted in bad faith or with a malicious purpose.(b)
A financial institution that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 281.004 (Temporary Hold on Transactions in Certain Cases of Suspected Financial Exploitation of Vulnerable Adults)(a)(1) is immune from any civil or criminal liability or disciplinary action resulting from that action or failure to act.
Source:
Section 281.005 — Immunity, https://statutes.capitol.texas.gov/Docs/FI/htm/FI.281.htm#281.005 (accessed Jun. 5, 2024).
