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Protecting Seniors from Financial Exploitation: Investment Fund Redemption Delays

This new act aims to protect seniors and adults with disabilities from financial exploitation. It allows investment funds to temporarily delay withdrawals if they suspect a client is a victim of fraud. This provides citizens with greater security, knowing their savings are safeguarded against dishonest practices.
Key points
Investment funds can delay redemptions (up to 15 business days, with possible extensions) if they suspect financial exploitation of individuals aged 65 or older, or adults with disabilities.
Customers will be asked to provide contact information for a trusted individual whom the fund can notify in case of suspected exploitation.
The act requires funds to establish internal procedures for identifying and reporting financial exploitation and to inform customers about the possibility of redemption delays.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2840
Sponsor: Sen. Hagerty, Bill [R-TN]
Process start date: 2025-09-17
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Summarized by: gemini-2.5-flash-preview-05-20
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_S_2840.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-09-17.

What are the main provisions?

Key points include:

  • Investment funds can delay redemptions (up to 15 business days, with possible extensions) if they suspect financial exploitation of individuals aged 65 or older, or adults with disabilities.
  • Customers will be asked to provide contact information for a trusted individual whom the fund can notify in case of suspected exploitation.
  • The act requires funds to establish internal procedures for identifying and reporting financial exploitation and to inform customers about the possibility of redemption delays.
What is the specific legal status?

The current status is Introduced.

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 Sen. Hagerty, Bill [R-TN].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Courts and Law Economy