H.R. 2478Financial Exploitation Prevention Act of 2025

1 recorded actionWhat the measure does Read on Congress.gov

Sponsor: Ann Wagner [R-MO-02]
Cosponsors: 11 · 7 Republicans · 4 Democrats
Policy area: Finance and Financial Sector
Committees: Financial Services Committee, Banking, Housing, and Urban Affairs Committee
Latest action: Jul 13, 2026 · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

IntroducedMar 27, 2025
Passed the HouseJun 25, 2026
Passed the SenateNot yet reached
Sent to the PresidentNot yet reached
Became lawNot yet reached

What the measure doesCRS summary

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 the nonpartisan Congressional Research Service, describing H.R. 2478 as introduced in House on Mar 27, 2025. It is not the text of the measure; a later amendment may have changed what it does.

How every member votedHouse roll call 227

House Jun 25, 2026

On Motion to Suspend the Rules and Pass, as Amended

Financial Exploitation Prevention Act

Passed · Two-thirds required

414 Yea 2 Nay 14 not voting

Crossed both parties 2 of 416 voting members broke with their own party: 2 Republicans.

Open the official roll call

How the chamber split

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DemocratsIndependentsRepublicansFilled: YeaRing: NayGrey: not voting or present

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All members430 members

Democratic212 members

Independent1 member

Republican217 members

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

Cosponsors11 · 7 Republicans · 4 Democrats

Signing on is not a vote: a member can cosponsor H.R. 2478 and vote against it. 6 signed when it was filed.

Loading the public record

H.R. 2478Financial Exploitation Prevention Act of 2025

What the measure doesCRS summary

How every member votedHouse roll call 227

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

Cosponsors11 · 7 Republicans · 4 Democrats

H.R. 2478Financial Exploitation Prevention Act of 2025

What the measure doesCRS summary

How every member votedHouse roll call 227

On Motion to Suspend the Rules and Pass, as Amended

How the chamber split

Cosponsors11 · 7 Republicans · 4 Democrats

Who lobbied on H.R. 24787 organizations

Who lobbied on H.R. 24787 organizations