H.R. 2265 · 117th Congress
Financial Exploitation Prevention Act of 2021
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 117th Congress ended.
R
WagnerSponsor8 cosponsors · 6 D, 2 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Mar 26, 2021
- House Passed Oct 25, 2021
This bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent 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.
What it does: CRS summary · Passed House · Oct 25, 2021
Financial Exploitation Prevention Act of 2021
This bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company or transfer agent 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. Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.
Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of such adults.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Exploitation Prevention Act of 2021
Latest action (Oct 26, 2021): Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Mar 26, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Mar 26, 2021
- House Passed Oct 25, 2021
No recorded floor vote found.