# 119-hr-2478: Financial Exploitation Prevention Act of 2025

119-hr-2478, Financial Exploitation Prevention Act of 2025, is a 119th Congress bill sponsored by Rep. Wagner, Ann [R-MO-2] (R-MO); status passed_house; PRIA reads it as touching household money (as of 2026-11-04).

- Canonical: https://policyrisk.com/legislation/119-hr-2478
- As of: 2026-11-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2478
- Congress: 119
- Title: Financial Exploitation Prevention Act of 2025
- Status: passed_house
- Introduced: 2025-03-27
- Sponsor: Rep. Wagner, Ann [R-MO-2] (R-MO)
- Cosponsors: 11
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-11-04

## Summary

**Protects specified adults from financial exploitation in direct-at-fund accounts.** The bill would let registered open-end investment companies and their transfer agents collect an adult emergency contact, document it, and notify that contact when abuse is suspected. - Specified adults: Covers people aged 65 or older and adults 18 or older with mental or physical impairments. It lets firms pause redemption payments for up to 15 business days and extend that pause by up to 10 more business days if exploitation appears likely. - Funds and transfer agents: Entities that opt in must collect and retain at least one adult contact, disclose they may contact that person, create internal procedures for identifying and reporting exploitation, and keep records of postponements, reviews, and notifications. - Regulators: The Securities and Exchange Commission must report to Congress within one year with recommendations to address financial exploitation, after consulting banking and securities regulators and the consumer bureau.

## Cosponsors (11)

- Rep. Gottheimer, Josh [D-NJ-5] (D-NJ), 2025-03-27T00:00:00.000Z
- Rep. Garbarino, Andrew R. [R-NY-2] (R-NY), 2025-03-27T00:00:00.000Z
- Rep. Steil, Bryan [R-WI-1] (R-WI), 2025-03-27T00:00:00.000Z
- Rep. Kim, Young [R-CA-40] (R-CA), 2025-03-27T00:00:00.000Z
- Rep. Perez, Marie Gluesenkamp [D-WA-3] (D-WA), 2025-03-27T00:00:00.000Z
- Rep. Lawler, Michael [R-NY-17] (R-NY), 2025-03-27T00:00:00.000Z
- Rep. Huizenga, Bill [R-MI-4] (R-MI), 2025-04-07T00:00:00.000Z
- Rep. Vindman, Eugene Simon [D-VA-7] (D-VA), 2025-06-03T00:00:00.000Z
- Rep. Fields, Cleo [D-LA-6] (D-LA), 2025-06-04T00:00:00.000Z
- Rep. Sessions, Pete [R-TX-17] (R-TX), 2025-09-15T00:00:00.000Z
- Rep. Nunn, Zachary [R-IA-3] (R-IA), 2025-09-16T00:00:00.000Z

## Votes

| Date | Chamber | Question | Result | Yea | Nay |
| --- | --- | --- | --- | --- | --- |
| 2026-06-25T00:00:00.000Z | house | On Motion to Suspend the Rules and Pass, as Amended | Passed | 414 | 2 |

## Provisions PRIA read

- Add a trusted contact to your account: benefit, low. If enacted, funds and their transfer agents would ask direct‑at‑fund retail customers to name at least one adult they can contact about the account. They would tell you in writing that they may contact this person to check on suspected exploitation, confirm your contact or health status, or find a…
- Redemption holds to protect seniors' funds: mixed, medium. If enacted, a mutual fund or its transfer agent would be allowed to delay a redemption payment when it reasonably believes a senior or impaired adult is being exploited. Payment would be delayed beyond the usual 7‑day window for up to 15 business days. The firm would be able to add up to 10 more bu…
- Funds must opt in for protections: mixed, low. If enacted, a mutual fund and its transfer agent would need to elect these rules by notifying the SEC. Only firms that opt in would use the trusted‑contact steps and the temporary redemption delays. This means coverage would vary by fund.

## Related bills

- 119-hr-909: Crime Victims Fund Stabilization Act of 2025
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-1422: Enhanced Iran Sanctions Act of 2025
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025
- 119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act
- 119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act

## Sources
- [119-hr-2478 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2478)

## Related
- [119-hr-909: Crime Victims Fund Stabilization Act of 2025](https://policyrisk.com/legislation/119-hr-909)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-1422: Enhanced Iran Sanctions Act of 2025](https://policyrisk.com/legislation/119-hr-1422)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [119-hr-4382: America’s Olympic and Paralympic Games Commemorative Coins Act](https://policyrisk.com/legislation/119-hr-4382)
- [119-hr-1628: 761st Tank Battalion Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1628)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2478 (as of 2026-11-04).