TRAPS Act

This bill would require the Secretary of the Treasury to create a Task Force for Recognizing and Averting Payment Scams within 90 days. The task force would include representatives from federal financial, communications, and law enforcement agencies, along with appointed members from banks, credit unions, digital payment networks, consumer groups, technology industry groups, and scam victims. It would study payment scams, review how other countries fight them, plan consumer education, and consider whether new federal laws are needed. The task force would send a public report to Congress within one year, provide annual updates, and end 3 years after its first report.

Full text and official record on Congress.gov

Sponsors

• Zachary Nunn Republican sponsor
• 56 cosponsors