H.R.9668

Allows financial institutions to temporarily delay transactions to prevent financial exploitation of older adults and vulnerable persons.

The STOP Senior Fraud Act authorizes financial institutions to delay or refuse transactions that may involve the financial exploitation of older adults and vulnerable persons. A delay can last up to 55 days, extendable to 85 days if supported by an internal review. The financial institution must notify relevant parties, trusted contacts, and authorities of the delay. The delay ends if the institution determines exploitation will not occur or if a court orders the release of funds.