Banks must report and stop suspected elder fraud.
H.R. 10350 — Protecting Elders from Wire Fraud Act · Filed by George Whitesides (D-CA) · 2 cosponsors · Introduced Sep 10, 2026 · Referred to committee
Your members of Congress
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What it does
This bill makes banks report suspected elder fraud to regulators within 5 days. Banks must hold transactions for up to 30 days. Banks must tell trusted contacts about the fraud. Banks must share records with authorities. Banks are protected from lawsuits if they act in good faith.
Who it affects
Older adults get help stopping fraud and losing money. Banks must follow new rules but are shielded from liability for good-faith actions.
One thing to notice
A 30-day hold might delay money older adults need right away. Banks are protected from lawsuits even if a hold was wrong.
From the analysis of the bill text, linked under Primary records below.
Where it stands
2 cosponsors: 1 Democrats, 1 Republicans.
- Sep 10, 2026 — Introduced · Congress.gov: “Introduced in House”
- Sep 10, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Words to know
- hold — A temporary stop on moving money from an account.
- good faith — Acting honestly and with honest intent to help, not to harm.
- liability — Legal responsibility to pay for harm or damages.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (6,085 characters) on Sep 16, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,522 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-09-22.
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