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119-hr-10495119th CongressWALLET

CATFISH Act of 2026

Sponsored By: Representative Hamadeh, Abraham J. [R-AZ-8]

Introduced

Summary

Stronger penalties and mandatory bank reporting to stop romance scams targeting people age 60 and older. This bill would add new criminal penalties for romance fraud against seniors, require banks to flag and report warning signs, and push retailers and agencies to train staff and help victims.

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  • Seniors: The bill would make romance fraud against people age 60 or older carry extra criminal penalties of up to 10 years in prison and up to $1 million in added fines on top of underlying fraud charges. It would also require retailers with 500+ employees to warn and assist seniors who buy large-value gift cards over $500.
  • Financial institutions: Covered banks, credit unions, and digital-asset providers would have to report account anomalies and behavioral red flags to the Treasury, adopt new controls, train staff, and give seniors clear instructions on how to report suspected fraud.
  • Agencies and enforcement: The Treasury and banking agencies must issue rules and guidance within 180 days. Covered banking agencies could seek civil penalties up to $50,000 per violation after a one-year delay. The Department of Justice through the FBI must create training programs and the Federal Trade Commission must publish a sample retailer advisory within 180 days.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Higher penalties for romance fraud

If enacted, people convicted of mail, wire, or bank fraud tied to a romance scam against someone age 60 or older would face higher federal penalties. The bill would add up to 10 more years in prison and up to $1,000,000 in fines on top of penalties for the underlying offense. The enhancement applies only when the scheme qualifies as a romance fraud and the underlying crime is one of the listed fraud statutes.

New bank rules to protect seniors

If enacted, banks and covered financial firms would have to watch for signs of romance scams against customers age 60 or older and report detailed incident information to the Treasury. They would need new procedures, employee training, a way for a senior to name a contact, and referral steps to the DOJ National Elder Fraud Hotline. The Treasury must issue rules and guidance within 180 days, and agencies would be able to fine institutions up to $50,000 per violation starting one year after enactment. Institutions would also have to document responses and could place holds, restrict, or close accounts as part of incident responses.

Store warnings for big gift-card buys

If enacted, the Attorney General and FBI would train employees at large retailers (500+ full-time workers) to intervene when a senior buys a gift card over $500. Staff would have to give oral and written warnings about romance scams and advise calling the DOJ National Elder Fraud Hotline. The FTC must publish a sample written advisory within 180 days after enactment, and retailers must offer reasonable help to make the Hotline call if the senior asks.

Sponsors & CoSponsors

Sponsor

Hamadeh, Abraham J. [R-AZ-8]

AZ • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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