HR 2478
Passed a chamber
Allows mutual funds and their transfer agents to delay redemption payments for up to 15 business days when they reasonably believe an elderly or impaired investor is being financially exploited.
Official title: Financial Exploitation Prevention Act of 2025
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
27-MAR-2025
Referred
27-MAR-2025
Approved by committee
16-SEP-2025
Reported
04-NOV-2025
On the calendar
04-NOV-2025
Passed
25-JUN-2026
Senate
Received
13-JUL-2026
- Lets funds and transfer agents postpone redemption payments for up to 15 business days, extendable by 10 more, when they reasonably believe financial exploitation of a specified adult has occurred, is occurring, or has been attempted.
- Defines a specified adult as a person age 65 or older, or an adult age 18 or older with a mental or physical impairment that leaves them unable to protect their own interests.
- Applies only to funds and transfer agents that elect to comply by notifying the Securities and Exchange Commission, and requires them to ask direct investors for a contact person, keep that information, and disclose in writing that they may reach out to that person.
- Directs the Securities and Exchange Commission to report to Congress within one year with recommendations for further regulatory and legislative changes, prepared in consultation with several financial regulators.
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (27-MAR-2025); the text has changed since (Engrossed in House, 25-JUN-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.govFinance and Financial Sector
■ 7 R■ 4 D
7 Republicans