H.R. 2478, the Financial Exploitation Prevention Act of 2025, passed the House on June 25, 2026.
H.R. 2478 — Financial Exploitation Prevention Act of 2025
What it does
This bill creates a system for investment companies and transfer agents to identify and protect older adults and people with cognitive impairments from financial exploitation. When someone withdraws money from a mutual fund, the company can now ask for an emergency contact, and if they suspect fraud or exploitation, they can delay the withdrawal for up to 15 days (extendable to 25 days) while they investigate and notify the emergency contact. The goal is to give families and authorities time to intervene before stolen money leaves the account.
Quorum's transparency scan found no buried provisions in Financial Exploitation Prevention Act of 2025.
What happens next
H.R. 2478 passed the House. It now moves to the other chamber.
Who is behind it
Filed by Ann Wagner. Cosponsored by Andrew Garbarino, Bill Huizenga, Bryan Steil and Cleo Fields.