United States · Bill · HR
H.R. 500 (118th)
Financial Exploitation Prevention Act of 2023
Introduced
25 January 2023
Last action
31 January 2023 · Introduced
Status
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
Rep. Wagner, Ann [R-MO-2], Rep. Gottheimer, Josh [D-NJ-5], Rep. Steil, Bryan [R-WI-1], Rep. Huizenga, Bill [R-MI-4], Rep. Green, Al [D-TX-9], Rep. Houchin, Erin [R-IN-9], Rep. Lawler, Michael [R-NY-17], Rep. Donalds, Byron [R-FL-19], Rep. Perez, Marie Gluesenkamp [D-WA-3], Rep. Williams, Nikema [D-GA-5], Rep. Kim, Young [R-CA-40], Rep. Rose, John W. [R-TN-6], Rep. Garbarino, Andrew R. [R-NY-2], Rep. James, John [R-MI-10]
Subjects
Discovery layer
Source updated
27 May 2025
Summary
Financial Exploitation Prevention Act of 2023 This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.) Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company 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. 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. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
25 January 2023
Introduced
Referred to the House Committee on Financial Services.
Source: IntroReferral
25 January 2023
Introduced
Introduced in House
Source: IntroReferral
25 January 2023
Introduced
Introduced in House
Source: IntroReferral
30 January 2023
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
30 January 2023
Vote
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 94). (text: CR H498-499)
Source: Floor
30 January 2023
Vote
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 419 - 0 (Roll no. 94). (text: CR H498-499)
Source: Floor
30 January 2023
Floor
Considered under suspension of the rules. (consideration: CR H498-501)
Source: Floor
30 January 2023
Vote
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Source: Floor
30 January 2023
Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 500.
Source: Floor
30 January 2023
Floor
Mr. McHenry moved to suspend the rules and pass the bill.
Source: Floor
31 January 2023
Introduced
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Source: IntroReferral
Votes
30 January 2023 · passed · On Motion to Suspend the Rules and Pass · Passed · Official source
Yes 419 · No 0 · Abstain — · Absent/not voting 15
- Rep. Ferguson, A. Drew, IV [R-GA-3]Yea
- Rep. Bean, Aaron [R-FL-4]Yea
- Rep. Spanberger, Abigail Davis [D-VA-7]Yea
- Sen. Schiff, Adam B. [D-CA]Yea
Showing the first 4 recorded positions. Vote totals above are complete.
Versions
- Referred in Senate · 31 January 2023 · Download file
- Engrossed in House · 30 January 2023 · Download file
- Introduced in House · 25 January 2023 · Download file
Documents
8 official files
Referred in Senate (text)
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Referred in Senate (text)
Referred in Senate · EN · 31 January 2023
Referred in Senate (PDF)
Referred in Senate · EN · 31 January 2023
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Engrossed in House (text)
Engrossed in House · EN · 30 January 2023
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Engrossed in House (PDF)
Engrossed in House · EN · 30 January 2023
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Passed House
summary · EN · 30 January 2023
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Introduced in House (text)
Introduced in House · EN · 25 January 2023
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Introduced in House (PDF)
Introduced in House · EN · 25 January 2023
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Introduced in House
summary · EN · 25 January 2023
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Sponsors
- Rep. Wagner, Ann [R-MO-2] · R · Sponsor
- Rep. Gottheimer, Josh [D-NJ-5] · D · Sponsor
- Rep. Steil, Bryan [R-WI-1] · R · Sponsor
- Rep. Huizenga, Bill [R-MI-4] · R · Sponsor
- Rep. Green, Al [D-TX-9] · D · Sponsor
- Rep. Houchin, Erin [R-IN-9] · R · Cosponsor
- Rep. Lawler, Michael [R-NY-17] · R · Cosponsor
- Rep. Donalds, Byron [R-FL-19] · R · Cosponsor
- Rep. Perez, Marie Gluesenkamp [D-WA-3] · D · Cosponsor
- Rep. Williams, Nikema [D-GA-5] · D · Cosponsor
- Rep. Kim, Young [R-CA-40] · R · Cosponsor
- Rep. Rose, John W. [R-TN-6] · R · Cosponsor
- Rep. Garbarino, Andrew R. [R-NY-2] · R · Cosponsor
- Rep. James, John [R-MI-10] · R · Cosponsor
- · ssbk00 · Standing
- · hsba00 · Standing
Related records
- related to ← Financial Exploitation Prevention Act of 2023
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/house-bill/500
- Open data entity: https://api.congress.gov/v3/bill/118/hr/500
- us · 118-hr-500 · source updated 27 May 2025