3.0.0
2478
2025-11-24T20:17:11Z
2025-11-24T20:17:11Z
House
H
HR
2025-03-27
119
https://www.congress.gov/bill/119th-congress/house-bill/2478
[Congressional Record Volume 171, Number 56 (Thursday, March 27, 2025)][House][Pages H1339-H1340]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. WAGNER:H.R. 2478.Congress has the power to enact this legislation pursuantto the following:[[Page H1340]]Article 1, Section 8, Clause 18
- hsba00
Financial Services Committee
House
Standing
  - Reported By
2025-11-04T18:45:29Z
  - Markup By
2025-09-16T14:35:39Z
  - Referred To
2025-03-27T13:03:35Z
H. Rept. 119-361

- Financial Exploitation Prevention Act of 2025
119
2840
S
2025-09-17
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  - Related bill
CRS
- 2025-11-04
Placed on the Union Calendar, Calendar No. 313.
Calendars
H12410
2
House floor actions
U00313
- 2025-11-04
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
Committee
H12200
2
House floor actions
  - hsba00
Financial Services Committee
- 2025-11-04
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
Committee
5000
9
Library of Congress
  - hsba00
Financial Services Committee
- 2025-09-16
  - hsba00
Financial Services Committee
1
House committee actions
Ordered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
Committee
- 2025-09-16
  - hsba00
Financial Services Committee
1
House committee actions
Committee Consideration and Mark-up Session Held
Committee
- 2025-03-27
Referred to the House Committee on Financial Services.
IntroReferral
H11100
2
House floor actions
  - hsba00
Financial Services Committee
- 2025-03-27
Introduced in House
IntroReferral
Intro-H
9
Library of Congress
- 2025-03-27
Introduced in House
IntroReferral
1000
9
Library of Congress
- W000812
Rep. Wagner, Ann [R-MO-2]
Ann
Wagner
R
MO
2
N
- G000583
Rep. Gottheimer, Josh [D-NJ-5]
Josh
Gottheimer
D
NJ
5
2025-03-27
True
- G000597
Rep. Garbarino, Andrew R. [R-NY-2]
Andrew
Garbarino
R
NY
R.
2
2025-03-27
True
- S001213
Rep. Steil, Bryan [R-WI-1]
Bryan
Steil
R
WI
1
2025-03-27
True
- K000397
Rep. Kim, Young [R-CA-40]
Young
Kim
R
CA
40
2025-03-27
True
- G000600
Rep. Perez, Marie Gluesenkamp [D-WA-3]
Marie
Perez
D
WA
Gluesenkamp
3
2025-03-27
True
- L000599
Rep. Lawler, Michael [R-NY-17]
Michael
Lawler
R
NY
17
2025-03-27
True
- H001058
Rep. Huizenga, Bill [R-MI-4]
Bill
Huizenga
R
MI
4
2025-04-07
False
- V000138
Rep. Vindman, Eugene Simon [D-VA-7]
Eugene
Vindman
D
VA
Simon
7
2025-06-03
False
- F000110
Rep. Fields, Cleo [D-LA-6]
Cleo
Fields
D
LA
6
2025-06-04
False
- S000250
Rep. Sessions, Pete [R-TX-17]
Pete
Sessions
R
TX
17
2025-09-15
False
- N000193
Rep. Nunn, Zachary [R-IA-3]
Zachary
Nunn
R
IA
3
2025-09-16
False
Finance and Financial Sector
- Administrative law and regulatory procedures
2025-09-26T12:59:13Z
- Congressional oversight
2025-09-26T12:59:13Z
- Crime victims
2025-09-26T12:59:13Z
- Fraud offenses and financial crimes
2025-09-26T12:59:13Z
- Government information and archives
2025-09-26T12:59:13Z
- Government studies and investigations
2025-09-26T12:59:13Z
- Securities
2025-09-26T12:59:13Z
- Securities and Exchange Commission (SEC)
2025-09-26T12:59:13Z
Finance and Financial Sector
2025-04-07T12:56:59Z
00
2025-03-27
Introduced in House
2025-11-24T20:14:55Z
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.

Financial Exploitation Prevention Act of 2025
- Short Title(s) as Reported to House
102

Financial Exploitation Prevention Act of 2025
2025-11-05T03:53:12Z
H
House
Reported in House
RH
- Display Title
45

Financial Exploitation Prevention Act of 2025
2025-04-06T04:38:23Z
- Short Title(s) as Introduced
101

Financial Exploitation Prevention Act of 2025
2025-04-06T04:38:20Z
Introduced in House
IH
- Official Title as Introduced
6

To amend the Investment Company Act of 1940 to postpone the date of payment or satisfaction upon redemption of certain securities in the case of the financial exploitation of specified adults, and for other purposes.
2025-04-06T04:33:28Z
Introduced in House
IH
- Reported in House
2025-11-04T05:00:00Z
  - https://www.govinfo.gov/content/pkg/BILLS-119hr2478rh/xml/BILLS-119hr2478rh.xml
- Introduced in House
2025-03-27T04:00:00Z
  - https://www.govinfo.gov/content/pkg/BILLS-119hr2478ih/xml/BILLS-119hr2478ih.xml
2025-11-04
Placed on the Union Calendar, Calendar No. 313.
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.
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