AI-assisted analysis based on the official CRS summary. Source version: Nov 24, 2025. Analysis updated: Sep 15, 2026.
01 — The Text
What.
- Investment companies and transfer agents can delay redeeming securities for individuals age 65+ or those age 18+ with mental or physical impairments if they reasonably believe financial exploitation is occurring
- Initial delay permitted up to 15 days; an additional 10-day delay possible after exploitation determination
- State regulators, administrative agencies, or courts may extend the delay period beyond these timeframes
- Companies must hold redemption amounts in a demand deposit account during any delay
- Investment companies and transfer agents must notify the SEC if they choose to use these delay procedures
02 — The Stakes
So what?
- The bill creates a mechanism to potentially halt withdrawals from investment accounts, but effectiveness depends on companies' reasonable belief determinations and state/court extensions
- Individuals subject to delay may experience temporary inability to access their redemption proceeds
- The SEC is directed to make recommendations on addressing financial exploitation of older adults and those with impairments, though no mandatory actions or timelines are specified
- Limited documentation exists regarding how frequently exploitation occurs in these scenarios or predicted impact on account holders
03 — The Path
Now what?
- Bill passed House on June 25, 2026 (414-2 vote under suspension of rules)
- Received in Senate and referred to Committee on Banking, Housing, and Urban Affairs on July 13, 2026
- No further action recorded after Senate committee referral
Legislative History
Actions.
- Jul 13, 2026 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Jun 25, 2026 — Motion to reconsider laid on the table Agreed to without objection.
- Jun 25, 2026 — On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 2 (Roll no. 227).
- Jun 25, 2026 — Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 414 - 2 (Roll no. 227).
- Jun 25, 2026 — Considered as unfinished business. (consideration: CR H4251-4252)
- Jun 24, 2026 — At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Hill (AR) objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was considered as withdrawn.
- Jun 24, 2026 — DEBATE - The House proceeded with forty minutes of debate on H.R. 2478.
- Jun 24, 2026 — Considered under suspension of the rules. (consideration: CR H4222-4226; text: CR H4222-4223)