HR2478: Financial Exploitation Prevention Act of 2025
119th Congress (2025–2027) · House bill · Sponsor: Rep. Wagner, Ann [R-MO-2]
119th Congress (2025–2027) · House bill · Sponsor: Rep. Wagner, Ann [R-MO-2]
| Item | Detail |
|---|---|
| Roll-call votes | 1 |
| Chamber | House |
| Latest vote | 2026-06-25: Passed |
| Latest action | 2026-07-13: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Policy area | Finance and Financial Sector |
| Official record | Congress.gov |
Financial Exploitation Prevention Act of 2025This 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…
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)
Every recorded vote on this bill, newest first, with a link to the official tally. Member-by-member positions are on each member’s profile.
| Date | Chamber | Question | Result | Yea | Nay | Not voting | Record |
|---|---|---|---|---|---|---|---|
| 2026-06-25 | House | 2/3 Yea-And-Nay | Passed | 414 | 2 | 14 | Official tally |
HR2478 (Financial Exploitation Prevention Act of 2025) was introduced in the 119th Congress (2025–2027) by Rep. Wagner, Ann [R-MO-2].
On 2026-07-13: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
1 recorded vote in the 119th Congress. The most recent, on 2026-06-25, was "2/3 Yea-And-Nay": Passed.