H.R. 500Financial Exploitation Prevention Act of 2023

1 recorded action295 of these members are on the 2026 ballotWhat the measure does Read on Congress.gov

Sponsor: Ann Wagner [R-MO-02]
Cosponsors: 13 · 9 Republicans · 4 Democrats
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Latest action: Jan 31, 2023 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedJan 25, 2023
Passed the HouseJan 30, 2023
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.)

Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests.

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. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account.

Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.

Written by the nonpartisan Congressional Research Service, describing H.R. 500 as passed House on Jan 30, 2023. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 94

House Jan 30, 2023

On Motion to Suspend the Rules and Pass

Financial Exploitation Prevention Act

Passed · Two-thirds required

419 Yea 0 Nay 15 not voting

Crossed both parties No voting member broke with their own party.

Open the official roll call

How the chamber split

One dot per member. Select a seat or a bar to filter the list.

DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present

By party select a segment to filter

All members434 members

Democratic212 members

Republican222 members

marks half of the votes cast. A party’s majority is the side most of its voting members took.

Cosponsors13 · 9 Republicans · 4 Democrats

Signing on is not a vote: a member can cosponsor H.R. 500 and vote against it. 4 signed when it was filed.

Loading the public record

Who lobbied on H.R. 5008 organizations

Organizations that named H.R. 500 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.

CMFG LIFE INSURANCE COMPANY

Insurance · Taxation/Internal Revenue Code · Financial Institutions/Investments/Securities · Telecommunications +1 more8 filings · 4th Quarter (Oct 1 - Dec 31) 2024Filing

DISCOVER FINANCIAL SERVICESIts PAC: Discover Financial Services PAC

Banking · Consumer Issues/Safety/Products · Bankruptcy · Education +1 more8 filings · 4th Quarter (Oct 1 - Dec 31) 2024Filing

FINANCIAL SERVICES INSTITUTEIts PAC: Financial Services Institute PAC

Financial Institutions/Investments/Securities8 filings · 4th Quarter (Oct 1 - Dec 31) 2024Filing

INVESTMENT COMPANY INSTITUTEIts PAC: Investment Co. Institute PAC

Financial Institutions/Investments/Securities · Retirement · Taxation/Internal Revenue Code · Budget/Appropriations8 filings · 4th Quarter (Oct 1 - Dec 31) 2024Filing

NATIONWIDE MUTUAL INSURANCE COMPANYIts PAC: Nationwide Mutual Insurance Co. PAC

Copyright/Patent/Trademark · Insurance · Taxation/Internal Revenue Code · Retirement +5 more8 filings · 4th Quarter (Oct 1 - Dec 31) 2024Filing

FINANCIAL PLANNING ASSOCIATIONfiled by MCALLISTER & QUINN, LLCIts PAC: Financial Planning Association PAC

Financial Institutions/Investments/Securities · Taxation/Internal Revenue Code2 filings · 2nd Quarter (Apr 1 - June 30) 2023Filing

INSURED RETIREMENT INSTITUTEIts PAC: Insured Retirement Institute PAC

Insurance · Retirement · Taxation/Internal Revenue Code · Financial Institutions/Investments/Securities2 filings · 4th Quarter (Oct 1 - Dec 31) 2023Filing

AARP

Disaster Planning/Emergencies · Agriculture · Family issues/Abortion/Adoption · Law Enforcement/Crime/Criminal Justice +14 more1 filing · 4th Quarter (Oct 1 - Dec 31) 2024Filing

45 disclosures name this measure. Retrieved from LDA.gov on 2026-10-04. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.