Financial Exploitation Prevention Act of 2025

This bill would let mutual fund companies and their transfer agents choose to follow new rules meant to address financial exploitation of older adults and adults with impairments. Companies that opt in would ask customers with direct-at-fund accounts for at least one trusted adult contact. They could delay paying out a redemption for up to 15 business days if they reasonably believe exploitation is involved for a customer age 65 or older or an adult with a mental or physical impairment, with a possible 10-business-day extension under certain conditions. Companies would need to keep records, set internal procedures, and note the possible delay in their prospectus. The Securities and Exchange Commission would report recommendations to Congress within one year.

Full text and official record on Congress.gov

Sponsors

• Bill Hagerty Republican sponsor
• 9 cosponsors