HR2478Referred to Committee

Financial Exploitation Prevention Act of 2025

Introduced

In Committee

Passed One Chamber

Passed Both

Signed into Law

119th

Congress

2025-03-27

Introduced

Cosponsors

ⓘ

Type

Sponsor

Ann Wagner

Republican · MO · Representative

Votes with party: 97.8% (543 recorded votes)

Full profile: /officials/W000812

Source: Congress.gov · FEC

Cosponsors (11)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Placed on the Union Calendar, Calendar No. 313.

2025-11-04

Source: Congress.gov

Committee Activity

Currently in

House Committee on Financial ServicesReported By · 2025-11-04

Previously

Financial Services CommitteeReported By · 2025-11-04
Financial Services CommitteeMarkup By · 2025-09-16
House Committee on Financial ServicesMarkup By · 2025-09-16
Financial Services CommitteeReferred To · 2025-03-27
House Committee on Financial ServicesReferred To · 2025-03-27

Plain-English Summary

Financial Exploitation Prevention Act of 2025 This bill establishes procedures for delaying the redemption of certain securities if an investment company or agent believes that an older individual or an individual with certain impairments has been financially exploited. Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company and serviced by a transfer agent if the company or agent reasonably believes the redemption involves the financial exploitation of an individual (1) age 65 or older, or (2) age 18 or older who is unable to protect his or her own interests due to a mental or physical impairment. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds. Transfer agents facilitate certain transactions for corporations and investment companies, including dividend distribution and change of securities ownership.) The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. A state regulator, appropriate administrative agency, or court may extend this period. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. The bill also establishes notification requirements. The bill requires the registered open-end investment company and transfer agent to notify the Securities and Exchange Commission (SEC) if they elect to comply with the procedures established under this bill. Additionally, the SEC must make recommendations to address the financial exploitation of these adults.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector

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Open text view Read on Congress.gov

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