HOUSE 2265117th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Financial Exploitation Prevention Act of 2021

Last Action: 10/26/2021

Actions

2021-10-26Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2021-10-25Motion to reconsider laid on the table Agreed to without objection.
2021-10-25On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H5848-5849)
2021-10-25Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H5848-5849)
2021-10-25DEBATE - The House proceeded with forty minutes of debate on H.R. 2265.
2021-10-25Considered under suspension of the rules. (consideration: CR H5848-5850)
2021-10-25Ms. Waters moved to suspend the rules and pass the bill, as amended.
2021-07-29Ordered to be Reported in the Nature of a Substitute (Amended) by Voice Vote.
2021-07-29Committee Consideration and Mark-up Session Held.
2021-07-28Committee Consideration and Mark-up Session Held.
2021-03-26Referred to the House Committee on Financial Services.
2021-03-26Introduced in House
2021-03-26Introduced in House

CRS Summary

As of 2021-10-25 (53)

Financial Exploitation Prevention Act of 2021

This bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests. Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.

Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of such adults.

Cosponsors (8)

Bryan Steil (R-WI)
Bill Huizenga (R-MI)
Ed Perlmutter (D-CO)
Al Green (D-TX)
Josh Gottheimer (D-NJ)
Antonio Delgado (D-NY)
Susie Lee (D-NV)
Nikema Williams (D-GA)

Subjects

Administrative law and regulatory procedures
Congressional oversight
Crime victims
Fraud offenses and financial crimes
Government information and archives
Government studies and investigations
Securities
Securities and Exchange Commission (SEC)
White-collar crime

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.