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Community Banks Leading Efforts to Curb Financial Fraud, Protect Consumers PACB Urges Governor, Legislature to empower banks to help consumers keep their hard-earned funds HARRISBURG, PA. — Today Pennsylvania Association of Community Bankers President and CEO Kevin Shivers applauded Governor Shapiro putting financial crime in the forefront in his 2026-27 budget address: “Community banks are taking the lead to protect their customers, including seniors, from financial fraud and theft. For the last five years, PACB has been seeking support from the governor and the legislature for changes to state law that would allow community banks to stop suspicious transactions and seek the cooperation of law enforcement to go after the bad actors. Senate Bill 738, sponsored by state Senator Chris Gebhard (R-Lebanon) is an important first step to giving banks the tools they need to help their customers safeguard their money. It’s vital state government and law enforcement partner with community banks to achieve this goal. Currently, state law does not allow banks and credit unions to place a temporary hold on transactions they suspect are fraudulent. State privacy laws make it difficult for banks to report these matters to family, law enforcement, or to their local area agency on aging. Providing this safe harbor will ensure banks play a more effective role in preventing elder financial abuse, while adding a needed tool to the Commonwealth’s toolbox to detect and deter frauds and scams. PACB looks forward to working with the governor and the legislature to enact a fair, on-time budget. Community banks remain committed to support and ensure the stability of the Pennsylvania banking industry and powering our state’s economy, now and in the years to come.” About the Pennsylvania Association of Community Bankers The Pennsylvania Association of Community Bankers empowers community banks to positively impact their local communities. The association exclusively represents the interests of community banks chartered in the Commonwealth and nearly 14,000 men and women who work in their communities to make the financial dreams of their neighbors become reality.
Community Banks Leading Efforts to Curb Financial Fraud, Protect Consumers PACB Urges Governor, Legislature to empower banks to help consumers keep their hard-earned funds
HARRISBURG, PA. — Today Pennsylvania Association of Community Bankers President and CEO Kevin Shivers applauded Governor Shapiro putting financial crime in the forefront in his 2026-27 budget address:
“Community banks are taking the lead to protect their customers, including seniors, from financial fraud and theft. For the last five years, PACB has been seeking support from the governor and the legislature for changes to state law that would allow community banks to stop suspicious transactions and seek the cooperation of law enforcement to go after the bad actors.
Senate Bill 738, sponsored by state Senator Chris Gebhard (R-Lebanon) is an important first step to giving banks the tools they need to help their customers safeguard their money. It’s vital state government and law enforcement partner with community banks to achieve this goal.
Currently, state law does not allow banks and credit unions to place a temporary hold on transactions they suspect are fraudulent. State privacy laws make it difficult for banks to report these matters to family, law enforcement, or to their local area agency on aging.
Providing this safe harbor will ensure banks play a more effective role in preventing elder financial abuse, while adding a needed tool to the Commonwealth’s toolbox to detect and deter frauds and scams.
PACB looks forward to working with the governor and the legislature to enact a fair, on-time budget. Community banks remain committed to support and ensure the stability of the Pennsylvania banking industry and powering our state’s economy, now and in the years to come.”
About the Pennsylvania Association of Community Bankers The Pennsylvania Association of Community Bankers empowers community banks to positively impact their local communities. The association exclusively represents the interests of community banks chartered in the Commonwealth and nearly 14,000 men and women who work in their communities to make the financial dreams of their neighbors become reality.