3.0.0 6305 2023-01-11T13:21:31Z 2023-01-11T13:21:31Z House H HR 2010-09-29 111 hswm00 Ways and Means Committee House Standing Referred to 2010-09-29T14:08:35Z hsba00 Financial Services Committee House Standing Referred to 2010-09-29T14:08:30Z 2010-09-29 Referred to House Ways and Means IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2010-09-29 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2010-09-29 Referred to House Financial Services IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2010-09-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-09-29 Introduced in House IntroReferral 1000 9 Library of Congress B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 N R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 2010-11-15 False C001067 Rep. Clarke, Yvette D. [D-NY-11] Yvette Clarke D NY D. 11 2010-11-15 False Finance and Financial Sector Administrative law and regulatory procedures Aging Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Consumer affairs Federal Reserve System Fraud offenses and financial crimes Income tax deductions Finance and Financial Sector 00 2010-09-29 Introduced in House 2010-10-19T15:11:37Z Preventing Affinity Scams for Seniors Act of 2010 or PASS Act of 2010 - Defines "affinity scam" as a transaction in which a person trusted by a senior, such as a caregiver, relative, guardian, "new friend," or service provider, claims to share similar interests or values and establishes a relationship with the senior, then uses the relationship to defraud the senior.

Requires each financial institution to: (1) educate its staff about affinity scams and how to identify transactions that may be part of an affinity scam; (2) train staff members on educating seniors about affinity scams; (3) provide senior depositors with educational materials on how to identify affinity scams; and (4) offer seniors a "senior protection (checking) account."

Directs the Bureau of Consumer Financial Protection to: (1) issue implementing regulations; and (2) audit financial institutions periodically to ensure compliance with them.

Sets forth senior protection account requirements, including protective measures to block and investigate transactions suspected of being an affinity scam.

Instructs the Secretary of the Treasury to establish an income tax deduction of .77% of the average of the amount of deposits held by a financial institution in senior protection accounts.

Subjects a noncompliant financial institution to a civil liability with respect to a senior who has sustained actual damage as a result of the institution's failure to comply with this Act.

Directs the Secretary to require each financial institution, and each of its directors, officers, employees, or agents, to report any suspicious transaction relevant to a possible affinity scam.

]]> Preventing Affinity Scams for Seniors Act of 2010 Display Title Preventing Affinity Scams for Seniors Act of 2010 Official Title as Introduced To require financial institutions to offer services to protect seniors from affinity scams, to report suspected affinity scams, and for other purposes. Introduced in House IH Short Titles as Introduced Preventing Affinity Scams for Seniors Act of 2010 Short Titles as Introduced PASS Act of 2010 Introduced in House 2010-09-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr6305ih/xml/BILLS-111hr6305ih.xml 2010-09-29 Referred to House Ways and Means text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.