Empowering States to Protect Seniors from Bad Actors Act
Sponsored By: Representative Gottheimer, Josh [D-NJ-5]
Introduced
Summary
Creates a federally funded grant program for state regulators to detect, investigate, prosecute, and prevent financial fraud against older Americans. It targets people age 62 and older and funds state securities and insurance regulators to hire staff, buy technology, run trainings, and give seniors education.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
State grants to protect seniors
If enacted, the bill would create a competitive SEC grant program to help states protect seniors from financial fraud. State securities commissions and state insurance departments would be eligible to apply. Grants could pay for staff, technology, training, education, planning, and state law improvements, but not for rent, utilities, or other general administrative costs. Awards would be capped at $500,000 per year per agency (or $1,000,000 if the agency serves as both securities and insurance regulator), and the bill would authorize $10 million per year for 2025 through 2030. The SEC would require detailed spending reports, audit the program annually, and report to Congress two years and five years after enactment.
Sponsors & CoSponsors
Sponsor
Gottheimer, Josh [D-NJ-5]
NJ • D
Cosponsors
Rep. Nunn, Zachary [R-IA-3]
IA • R
Sponsored 8/17/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov