Sponsors (3)
The bill directs modest federal grant funding to strengthen state-level prevention, investigation, and outreach against fraud targeting older adults—improving enforcement and awareness—but does so via competitive, capped grants and restricted administrative uses that may leave gaps, strain smaller agencies, and incur a small recurring federal cost.
Seniors (age 62+) will get expanded prevention, investigation, and prosecution resources through federal grants, increasing the chances of stopping scams and recovering losses.
State regulators and law enforcement will receive funding for technology, equipment, and training, improving detection, investigation speed, and case outcomes for financial fraud.
Older and vulnerable adults, including veterans, will benefit from grant-funded educational materials and outreach that raise awareness and can reduce victimization.
Some seniors and communities may remain unprotected because the competitive grant process means not all states or jurisdictions will receive funding.
Large or high-need States may be constrained in addressing senior fraud because grants are capped (e.g., $500K or $1M), limiting scalability of responses.
Smaller agencies may be strained because funds cannot be used for indirect administrative/overhead costs, making it harder for under-resourced offices to implement programs.
Based on analysis of 3 sections of legislative text.
Creates an SEC-administered competitive grant program funding state securities and insurance regulators to prevent and prosecute financial fraud targeting seniors, authorizing $10M/year for FY2025–2030.
Official title: To amend the Investor Protection and Securities Reform Act of 2010 to provide grants to States for enhanced protection of senior investors and senior policyholders, and for other purposes.
Introduced August 17, 2026 by Josh S. Gottheimer · Last progress August 17, 2026
Provides a new SEC-administered competitive grant program to help State securities commissions and State insurance departments prevent, investigate, and prosecute financial fraud targeting seniors (age 62+). Grants may fund staff, technology, training, outreach, planning, and state-law changes, with limits on administrative use and subgranting rules. Authorizes $10 million per year for FY2025–2030, sets per-recipient caps ($500,000 or $1,000,000 where combined), requires SEC performance reporting and audits, and mandates reports to Congress at 2 and 5 years about recipients, activities, and effectiveness.