House · On Motion to Suspend the Rules and Pass, as AmendedPassed
Yea 414 Nay 2 Present / not voting 14
H.R. 2478 · 119th CongressIn committee
Financial Exploitation Prevention Act of 2025
Latest action. Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Live record from Congress.gov, updated as the official record changes.
What this bill would do
Official summary · Congressional Research ServiceFinancial Exploitation Prevention Act of 2025
This bill establishes procedures for delaying the redemption of certain securities if an investment company or agent believes that an older individual or an individual with certain impairments has been financially exploited.
Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company and serviced by a transfer agent if the company or agent reasonably believes the redemption involves the financial exploitation of an individual (1) age 65 or older, or (2) age 18 or older who is unable to protect his or her own interests due to a mental or physical impairment. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds. Transfer agents facilitate certain transactions for corporations and investment companies, including dividend distribution and change of securities ownership.)
The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. A state regulator, appropriate administrative agency, or court may extend this period. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. The bill also establishes notification requirements.
The bill requires the registered open-end investment company and transfer agent to notify the Securities and Exchange Commission (SEC) if they elect to comply with the procedures established under this bill.
Additionally, the SEC must make recommendations to address the financial exploitation of these adults.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on March 27, 2025. It describes the bill, it is not the legal text.
Status
Introduced
March 27, 2025
In committee
July 13, 2026
Passed a chamber
Cleared Congress
Enacted
Common questions
Composed from the official recordWhere is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on July 13, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 118th Congress (2023-24), 274 of the 16,565 bills and joint resolutions introduced became law, about 1.7 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
Yes. 1 recorded roll-call vote cites this measure, listed further down this page with every member's position.
Who is behind it?
Ann Wagner (R-MO) introduced it on March 27, 2025, and 11 members have since signed on as cosponsors.
They come from both major parties: 4 Democrats, 7 Republicans.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 27, 2025, 532 days ago. The most recent recorded action was 59 days ago, on July 13, 2026.
Measures do not carry over. Anything the 119th Congress has not finished by January 3, 2027 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HousePassed on a recorded vote (official bill record may lag)
- SenateAwaiting Senate vote
- PresidentAwaits both chambers