Financial Exploitation Prevention Act of 2025

Key Provisions

• Lets investment companies delay payments for up to 15 business days if they suspect financial exploitation of certain adults.
• Allows for an additional 10 business days delay if exploitation is still suspected and certain steps are taken.
• Defines "specified adult" as someone 65 or older, or 18 or older with a mental or physical impairment making them unable to protect their interests.
• Requires companies that choose to participate to ask customers for a trusted contact person for their accounts.
• Requires participating companies to tell customers that this trusted contact might be reached about possible financial exploitation.
• Requires participating companies to set up internal procedures for identifying and reporting financial exploitation.