TRAPS Act
Sponsored By: Senator Mike Crapo
Introduced
Summary
Task Force on Payment Scams would create a time-limited, multi-agency group to study how electronic payment scams work and recommend coordinated steps to prevent, detect, and respond to them. It centers victims, industry experts, and regulators in a cross-sector effort.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
New Task Force on Payment Scams
If enacted, the Treasury Secretary would create a Task Force on payment scams within 90 days. The group would be chaired by the Secretary and include federal agencies, banks, credit unions, payment networks, tech platforms, consumer groups, community banks, and up to five victim representatives. The Task Force would meet at least three times in its first year and use remote meetings as needed. It would study spoofed calls, scam texts, malicious online content, business email compromise, and international approaches. The group would develop consumer education strategies, coordinate enforcement and industry efforts, and consider legislative or regulatory recommendations. The Task Force would publish an initial public report within one year of establishment, then update it annually. It would be exempt from Chapter 4 of title 5 and end three years after the initial report is submitted.
Sponsors & CoSponsors
Sponsor
Mike Crapo
ID • R
Cosponsors
Mark Warner
VA • D
Sponsored 6/10/2025
Jerry Moran
KS • R
Sponsored 6/10/2025
Raphael Warnock
GA • D
Sponsored 6/10/2025
Bill Cassidy
LA • R
Sponsored 7/8/2025
Jon Ossoff
GA • D
Sponsored 9/16/2025
Maggie Hassan
NH • D
Sponsored 11/18/2025
Jeff Merkley
OR • D
Sponsored 12/17/2025
Amy Klobuchar
MN • D
Sponsored 1/6/2026
Lisa Blunt Rochester
DE • D
Sponsored 2/26/2026
Roll Call Votes
No roll call votes available for this bill.
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