Skip to main content
Federal & State Lawfederalstatelaw.com
Home/Federal/Bills (Live)
HOUSE 2478119th CongressMotion to reconsider laid on the table Agreed to without objection.

Financial Exploitation Prevention Act of 2025

Last Action
6/25/2026

Actions

  • 2026-07-13Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • 2026-06-25Motion to reconsider laid on the table Agreed to without objection.
  • 2026-06-25On 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).
  • 2026-06-25Passed/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).
  • 2026-06-25Considered as unfinished business. (consideration: CR H4251-4252)
  • 2026-06-24At 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 The point of no quorum was considered as withdrawn.
  • 2026-06-24DEBATE - The House proceeded with forty minutes of debate on H.R. 2478.
  • 2026-06-24Considered under suspension of the rules. (consideration: CR H4222-4226; text: CR H4222-4223)
  • 2026-06-24Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  • 2025-11-04Placed on the Union Calendar, Calendar No. 313.
  • 2025-11-04Reported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
  • 2025-11-04Reported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
  • 2025-09-16Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  • 2025-09-16Committee Consideration and Mark-up Session Held
  • 2025-03-27Referred to the House Committee on Financial Services.

Showing 15 of 17 actions. Full history on Congress.gov.

CRS Summary

As of 2025-03-27 (00)

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.

Cosponsors (11)

  • Josh Gottheimer (D-NJ)
  • Andrew Garbarino (R-NY)
  • Bryan Steil (R-WI)
  • Young Kim (R-CA)
  • Marie Perez (D-WA)
  • Michael Lawler (R-NY)
  • Bill Huizenga (R-MI)
  • Eugene Vindman (D-VA)
  • Cleo Fields (D-LA)
  • Pete Sessions (R-TX)
  • Zachary Nunn (R-IA)

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)
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.