What does HR10350 do?

This legislation establishes a mandatory framework requiring covered financial institutions to actively intervene when their employees or agents suspect that a senior citizen is being financially exploited. The bill creates a structured mechanism for placing temporary holds on suspicious transactions, notifying trusted contacts, and reporting suspected exploitation to appropriate government agencies. The core objective is to create a protective buffer between vulnerable senior citizens and those who would defraud them through wire transfers and similar financial transactions, while simultaneously shielding financial institutions from legal liability when they act in good faith to protect their customers. The bill represents a significant expansion of affirmative duties placed on financial institutions in the elder protection space, moving beyond passive compliance into active intervention obligations.

Who sponsored HR10350?

George Whitesides, Maria Salazar, Donald Davis

What is the status of HR10350?

Introduced as of September 10, 2026.

What does HR10350 do?

This legislation establishes a mandatory framework requiring covered financial institutions to actively intervene when their employees or agents suspect that a senior citizen is being financially exploited. The bill creates a structured mechanism for placing temporary holds on suspicious transactions, notifying trusted contacts, and reporting suspected exploitation to appropriate government agencies. The core objective is to create a protective buffer between vulnerable senior citizens and those who would defraud them through wire transfers and similar financial transactions, while simultaneously shielding financial institutions from legal liability when they act in good faith to protect their customers. The bill represents a significant expansion of affirmative duties placed on financial institutions in the elder protection space, moving beyond passive compliance into active intervention obligations.

Who sponsored HR10350?

George Whitesides, Maria Salazar, Donald Davis

What is the status of HR10350?

Introduced as of September 10, 2026.

HR10350 U.S. House: Protecting Elders from Wire Fraud Act

Introduced

Introduced in House · September 15, 2026

September 10, 2026

Mr. Whitesides (for himself, Ms. Salazar, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To protect elders from wire fraud by imposing requirements on covered financial institutions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Protecting Elders from Wire Fraud Act”.

Introduced

Introduced in House · September 15, 2026

September 10, 2026

Mr. Whitesides (for himself, Ms. Salazar, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To protect elders from wire fraud by imposing requirements on covered financial institutions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Protecting Elders from Wire Fraud Act”.

Introduced

Introduced in House · September 15, 2026

September 10, 2026

Mr. Whitesides (for himself, Ms. Salazar, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To protect elders from wire fraud by imposing requirements on covered financial institutions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Protecting Elders from Wire Fraud Act”.

Introduced

Introduced in House · September 15, 2026

September 10, 2026

Mr. Whitesides (for himself, Ms. Salazar, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To protect elders from wire fraud by imposing requirements on covered financial institutions, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Protecting Elders from Wire Fraud Act”.

H.R.10350

H.R.10350

H.R.10350

H.R.10350