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Protecting Seniors and Vulnerable Adults from Financial Exploitation.

This law allows investment funds to temporarily halt the withdrawal of money from an account if they suspect a senior or vulnerable adult is being financially exploited. The goal is to protect the savings of individuals aged 65 and older, or adults with impairments, by providing time to verify suspicious transactions. If exploitation is suspected, access to funds may be delayed up to 25 business days.
Key points
Investment funds can delay the redemption of securities for up to 15 business days (extendable to 25 days) if financial exploitation is reasonably suspected.
Protection applies to individuals aged 65 or older, and adults (18+) with impairments preventing them from protecting their own interests.
Customers may be asked to provide contact information for a trusted individual who will be notified if exploitation is suspected.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_2478
Sponsor: Rep. Wagner, Ann [R-MO-2]
Process start date: 2025-03-27
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Exploitation Prevention Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2478.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-03-27.

What are the main provisions?

Key points include:

  • Investment funds can delay the redemption of securities for up to 15 business days (extendable to 25 days) if financial exploitation is reasonably suspected.
  • Protection applies to individuals aged 65 or older, and adults (18+) with impairments preventing them from protecting their own interests.
  • Customers may be asked to provide contact information for a trusted individual who will be notified if exploitation is suspected.
What is the specific legal status?

The current status is Placed on Calendar.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Wagner, Ann [R-MO-2].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 313.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Economy Security