Senior Security Act of 2025
Sponsored By: Representative Gottheimer
Passed House
Summary
Protecting senior investors is the central goal of this bill, which would create a dedicated Senior Investor Taskforce inside the SEC and require a GAO study on financial exploitation of older Americans. The measure focuses on spotting scams, advising regulatory fixes, and improving coordination across agencies and states.
Show full summary
- Seniors and their families: The Taskforce would focus on investors over age 65, identify problems such as financial exploitation and cognitive decline, analyze risky products and practices, and produce reports every two years with trends, best practices, and recommendations for regulatory or legislative changes.
- SEC operations and staff: The bill would establish a Director-led unit inside the SEC staffed from Enforcement, the Office of Compliance Inspections and Examinations, and the Office of Investor Education and Advocacy. Members serve without extra pay and the Taskforce has a 10-year sunset.
- Policymakers and enforcement partners: Within two years a GAO study would examine the economic costs, how often exploitation occurs, contributing factors (for example race, social isolation, income, net worth, and health), current reporting and response gaps, and legal barriers to better interagency and professional partnerships.
*The Commission must use existing funds to carry out the Taskforce.*
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
SEC team to protect senior investors
If enacted, the SEC would set up a Senior Investor Task Force for people 65 and older. It would spot scams, exploitation, and issues tied to cognitive decline, and suggest rule changes. The team would include enforcement, exam, and investor education staff, and work with states and other agencies. It would send Congress a report every two years; the first report would follow a related National Senior Investor Initiative report. The task force would end 10 years after enactment and use existing SEC funds; no direct payments to households.
Sponsors & CoSponsors
Sponsor
Gottheimer
NJ • D
Cosponsors
Wagner
MO • R
Sponsored 2/21/2025
Nunn (IA)
IA • R
Sponsored 5/19/2025
Roll Call Votes
No roll call votes available for this bill.
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