H.R. 2478 · 119th Congress

Financial Exploitation Prevention Act of 2025

Introduced on Mar 27, 2025 by Ann Wagner (R-MO-2). 11 cosponsors, 4 of them from another party. Latest action (Jul 13, 2026): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Stage
Passed one chamber
Introduced
Mar 27, 2025
Cosponsors
11
4 from the other party
Policy area
Finance and Financial Sector
Open in the Congress explorerCongress.govAlert me

Progress

The furthest stage the measure reached. Simple and concurrent resolutions do not go to the President.

  1. Introduced
  2. Reported by committee
  3. Passed one chamber
  4. 4Passed both chambers
  5. 5Sent to the President
  6. 6Became law

Official title

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.

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)

Summary

By the Congressional Research Service (Introduced in House, Mar 27, 2025). Public domain.

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.

Sponsor and cosponsors

Cosponsors by party as of the day they signed on. Original cosponsors signed on the day of introduction.

Ann WagnerR-MO-2Sponsor

Democrats · 4

Republicans · 7

Roll calls

Recorded votes on the measure. Most measures move by voice vote or unanimous consent, which record no individual positions.

  1. On Motion to Suspend the Rules and Pass, as Amended
    Jun 25, 2026· House· Passage· Passed 414–2

History

Every action as published, oldest first. Roll calls link to how each member voted.

  1. Mar 27, 2025Introduced in House
  2. Mar 27, 2025Introduced in House
  3. Mar 27, 2025 · HouseReferred to the House Committee on Financial Services.
  4. Sep 16, 2025 · HouseCommittee Consideration and Mark-up Session Held
  5. Sep 16, 2025 · HouseOrdered to be Reported (Amended) by the Yeas and Nays: 50 - 0.
  6. Nov 4, 2025Reported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
  7. Nov 4, 2025 · HouseReported (Amended) by the Committee on Financial Services. H. Rept. 119-361.
  8. Nov 4, 2025 · HousePlaced on the Union Calendar, Calendar No. 313.
  9. Jun 24, 2026 · HouseMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  10. Jun 24, 2026 · HouseConsidered under suspension of the rules. (consideration: CR H4222-4226; text: CR H4222-4223)
  11. Jun 24, 2026 · HouseDEBATE - The House proceeded with forty minutes of debate on H.R. 2478.
  12. Jun 24, 2026 · HouseAt 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.
  13. Jun 25, 2026 · HouseConsidered as unfinished business. (consideration: CR H4251-4252)
  14. Jun 25, 2026Passed/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).House · Roll call 227
  15. Jun 25, 2026 · HouseOn 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).House · Roll call 227
  16. Jun 25, 2026 · HouseMotion to reconsider laid on the table Agreed to without objection.
  17. Jul 13, 2026 · SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committees

Committees and subcommittees the measure was referred to.

Agencies in its committees' jurisdiction

Analisa's mapping of committee jurisdiction to federal agencies; the bill may touch others, or none of these.

Who lobbied on it

Organizations whose lobbying reports (LD-2) name this measure. Spending is what they reported for those quarters on all issues, not on this measure alone.

  1. Financial Services Institute6 reports
    $1.7M reported (all issues)
  2. INSURED RETIREMENT INSTITUTE6 reports
    $1.1M reported (all issues)
  3. INVESTMENT COMPANY INSTITUTE5 reports
    $6.1M reported (all issues)
  4. AARP4 reports
    $17.1M reported (all issues)
  5. FINSECA2 reports
    $1.4M reported (all issues)
  6. CENTER FOR RESPONSIBLE LENDING, A SUPPORTING CORP OF CTR FOR COMMUNITY SELF-HELP1 report
    $80K reported (all issues)

Reports filed in 2025, 2026.

Sources and method

Every figure on this page traces to these records.

  • Bill status: bills and resolutions, sponsors, actions, subjects and CRS summaries (U.S. Government Publishing Office (GovInfo), from Congress.gov (Library of Congress))GovInfo Bill Status bulk data (Congress.gov; summaries by the Congressional Research Service) · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Members of Congress, their terms, committees and identifiers (The @unitedstates project (from the Biographical Directory of the U.S. Congress, the House and the Senate))unitedstates/congress-legislators: legislators, committees and current committee membership · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: CC0 1.0 (public domain dedication)
  • House roll-call votes (Office of the Clerk, U.S. House of Representatives)Office of the Clerk, U.S. House of Representatives, roll-call vote records · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Senate roll-call votes and DW-NOMINATE scores (Voteview (UCLA Department of Political Science))Lewis, Jeffrey B., Keith Poole, Howard Rosenthal, Adam Boche, Aaron Rudkin, and Luke Sonnet (2026). Voteview: Congressional Roll-Call Votes Database. https://voteview.com/ · data current to Oct 3, 2026 · loaded Oct 3, 2026 · license: Free to use with the required citation
  • Lobbying disclosures (LD-1 registrations, LD-2 quarterly reports, LD-203 contribution reports) (Clerk of the U.S. House of Representatives)Clerk of the House, Lobbying Disclosure Act filings (organizations only; lobbyists' names are not loaded) · data current to Oct 5, 2026 · loaded Oct 5, 2026 · license: Public domain (U.S. Government work, 17 U.S.C. § 105)
  • Positions are shown only where a roll call recorded them; voice votes and unanimous consent record none.
  • Money and votes are shown side by side; neither explains the other.