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119-s-2544119th CongressWALLET

GUARD Act

Sponsored By: Senator Britt, Katie Boyd [R-AL]

In Committee

Summary

Expands use of federal grants to investigate and stop elder financial fraud and related scams. This bill would let State, local, and Tribal agencies use eligible federal grant funds for investigations, training, blockchain tracing tools, and victim assistance.

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Bill Overview

Analyzed Economic Effects

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

New federal reports on scams

If enacted, the Secretary of the Treasury and the Director of FinCEN would send Congress a joint report within one year with recommendations on preventing and investigating pig butchering, elder fraud, and other scams. Within two years they would deliver a comprehensive "state of scams" report estimating annual counts and dollar losses, the number of consumers who lose money, the share tied to overseas actors and organized crime, impersonation incidents, and synthetic identity use. The two-year report would also review federal civil and criminal enforcement actions and identify amounts made available and spent by listed federal agencies, and Treasury must solicit public comments from consumers and industry while preparing the report.

Local grants to fight financial scams

If enacted, State, local, and Tribal law enforcement would be allowed to use certain listed federal grants to investigate elder financial fraud, pig butchering, and general financial fraud. The grants would be allowed to pay for hiring investigators and analysts, training (including blockchain tracing and victim assistance), software and tools, data collection, drills with financial institutions, and a financial-sector liaison. Any agency that uses these funds would have to report to the federal grantor within one year about amounts spent, what the money paid for, local fraud statistics, and an assessment of their deterrent effect. Federal law enforcement would also be allowed to assist local partners and fusion centers in using blockchain tracing tools for investigations.

Sponsors & CoSponsors

Sponsor

Britt, Katie Boyd [R-AL]

AL • R

Cosponsors

  • Sen. Gillibrand, Kirsten E. [D-NY]

    NY • D

    Sponsored 7/30/2025

  • Sen. Scott, Rick [R-FL]

    FL • R

    Sponsored 7/30/2025

  • Sen. Lankford, James [R-OK]

    OK • R

    Sponsored 12/11/2025

  • Sen. Warnock, Raphael G. [D-GA]

    GA • D

    Sponsored 12/11/2025

  • Sen. Coons, Christopher A. [D-DE]

    DE • D

    Sponsored 2/4/2026

  • Sen. Klobuchar, Amy [D-MN]

    MN • D

    Sponsored 2/4/2026

  • Sen. Moody, Ashley [R-FL]

    FL • R

    Sponsored 2/5/2026

  • Sen. Grassley, Chuck [R-IA]

    IA • R

    Sponsored 2/5/2026

  • Sen. Cruz, Ted [R-TX]

    TX • R

    Sponsored 2/5/2026

  • Sen. King, Angus S., Jr. [I-ME]

    ME • I

    Sponsored 6/16/2026

  • Sen. Sullivan, Dan [R-AK]

    AK • R

    Sponsored 6/24/2026

  • Sen. Hassan, Margaret Wood [D-NH]

    NH • D

    Sponsored 7/15/2026

  • Sen. Ricketts, Pete [R-NE]

    NE • R

    Sponsored 7/30/2026

  • Sen. Shaheen, Jeanne [D-NH]

    NH • D

    Sponsored 8/6/2026

Roll Call Votes

No roll call votes available for this bill.

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