H.R. 9668 — STOP Senior Fraud Act

This section authorizes financial institutions to refuse or delay disbursements or transactions from accounts held by older adults (62 years or older), vulnerable persons, or persons with prior reported exploitation when financial exploitation is reasonably suspected. Delays may last up to 55 days and extend to 85 days following an internal review. Institutions must notify authorized parties (unless suspected of exploitation), trusted contacts, and report to state and local protective services, law enforcement, and a federal regulator within two business days. Each institution must train relevant employees on identifying exploitation and handling such transactions, and receives safe harbor from liability for good-faith compliance. The Bureau of Consumer Financial Protection may issue implementing rules. The section takes effect 180 days after enactment and does not preempt stricter state or local laws.