Financial Exploitation Prevention Act of 2025
House Committee Advances Financial Exploitation Prevention Act to Shield Seniors From Investment Fraud
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Lets mutual funds and their account service companies choose to use new anti-fraud steps for people who hold accounts directly with a fund (not through a brokerage).
- If the fund suspects a withdrawal is tied to financial exploitation of an older or impaired adult, it can delay paying out the money for up to 15 business days.
- The delay can be extended by 10 more business days if the fund documents its concerns, starts an internal review, and tries to notify a trusted contact picked by the customer.
- Customers would be asked to name at least one trusted adult contact, and the fund must tell customers in writing how and why that person might be contacted.
- The Securities and Exchange Commission must send Congress a report within 1 year recommending more changes to better stop exploitation of these investors.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 2 (Roll no. 227).
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 2 (Roll no. 227).
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Considered as unfinished business. (consideration: CR H4251-4252)
At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Hill (AR) objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was considered as withdrawn.
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Vote Results
1 voteOn Motion to Suspend the Rules and Pass, as Amended
Source Information
Document Type
Congressional Bill
Official Title
Financial Exploitation Prevention Act of 2025
Data Sources
Sponsor
Cosponsors
(11)Analysis generated by AI. Always verify with official sources.