Bill · S. 2840· Senate(119-S-2840)

Financial Exploitation Prevention Act of 2025

Age: 67 years

Tennessee

Introduced: 9/17/2025
Last activity: 9/17/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by: Bill Hagerty
Cosponsors: - 4 - 5

Finance and Financial Sector

Introduced
In Committee

What this bill would do

The bill, known as the Financial Exploitation Prevention Act of 2025, amends the Investment Company Act of 1940. It allows certain investment companies and transfer agents to postpone the payment or satisfaction upon redemption of securities if they reasonably believe financial exploitation of a specified adult has occurred, is occurring, or has been attempted. The legislation requires electing companies to ask customers for the contact information of at least one trusted individual. It sets specific time limits for delaying these redemptions and outlines rules for internal reviews and notifications. Additionally, the bill mandates that the Securities and Exchange Commission submit a report to Congress with recommendations on further regulatory and legislative changes to address financial exploitation within one year.

Yes· 3 of 6

Does this give people more protection from unfair business practices?+6
The bill protects vulnerable adults from financial exploitation by allowing companies to delay redemptions and contact designated individuals.
Would people over 65 be better off under this?+5
The bill provides specific protections against financial exploitation for adults aged 65 and older.
Would people with disabilities be better off under this?+5
The bill includes adults with mental or physical impairments in its protections against financial exploitation.