Bill · H.R. 10495· House(119-HR-10495)
CATFISH Act of 2026
- Introduced
- 9/17/2026
- Last activity
- 9/17/2026 — Referred to the Committee on the Judiciary, and in addition to the Committees on Financial Services, and Agriculture, 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.
- Sponsored by
- Abraham Hamadeh
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This legislation is titled the CATFISH Act of 2026 and aims to crack down on fraud schemes targeting older Americans. It creates stricter criminal penalties for individuals who commit romance scams against people age 60 or older. The bill requires financial institutions and large retailers to implement training, monitoring, and reporting procedures to help spot and stop these scams. It also directs the government to study current remedies for victims and issue rules to guide institutions in protecting seniors. Ultimately, the goal is to shield older adults from losing their hard-earned retirement savings to criminals.
Yes· 3 of 4
Would people over 65 be better off under this?+8
The legislation explicitly targets romance and confidence scams directed at older adults, offering them robust safeguards and fraud warnings.
Does this give people more protection from unfair business practices?+7
The bill mandates procedures and retailer interventions to protect consumers, especially seniors, from predatory fraud schemes.
Does this make what the government does easier for the public to see?+4
The bill requires covered financial institutions to collect and report detailed information regarding suspected fraud events to the Treasury.
The opposite
Does this shorten or soften prison sentences?-4
The bill increases criminal penalties and prison terms for individuals convicted of specific fraud offenses targeting older adults.
Does this protect people from being watched or searched?-4
The bill requires financial institutions to collect extensive documentation and personal information regarding suspected fraud events.
Who it would affect, and how
Potential Positive Impacts for People
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Section 3(a): This provision increases criminal penalties by adding up to 10 years in prison and up to a $1,000,000 fine for anyone convicted of certain fraud offenses linked to a romance scam targeting individuals age 60 or older. This is positive because it holds bad actors more accountable and aims to deter criminals from targeting older Americans.
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Section 3(b): This requires the FBI to train financial institutions on preventing romance fraud and mandates that employees at large retailers intervene when a senior attempts to buy a gift card worth more than $500. This provision helps protect seniors by providing them with oral and written warnings and connecting them with the National Elder Fraud Hotline.
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Section 3(c): This section requires covered financial institutions to monitor accounts for unusual activity tied to fraud, report suspicious events to the Treasury Department, and establish internal controls to protect senior customers. This gives older Americans an extra layer of defense by forcing banks and financial providers to actively look out for signs of financial exploitation.
Potential Negative Impacts for People
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Section 3(c) and Section 3(d): Covered financial institutions must collect extensive documentation, including photographs, video footage, and detailed descriptions of suspicious events involving senior customers, and face civil penalties of up to $50,000 for violations. While meant to protect consumers, these heavy administrative and reporting burdens could potentially lead to increased compliance costs or friction in everyday banking services for everyday people.
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Section 3(g): This provision encourages financial institutions to use transaction holds and disbursement delays to prevent fraud losses for senior customers. While designed to stop scams, these holds and delays could temporarily restrict seniors from accessing their own money during times when they urgently need it for legitimate purposes.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Seniors+8
- Economy And Finance
- Improves Consumer Protection+7
- Social Issues And Justice
- Improves Criminal Sentencing Reform-4
- Governance And Ideology
- Improves Government Transparency+4Increases Federal Power+3Improves Privacy Rights-4
- 9/17/2026
- Referred to the Committee on the Judiciary, and in addition to the Committees on Financial Services, and Agriculture, 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.
- Introduced in House