This bill requires credit card companies and banks to take specific steps to protect senior citizens from financial fraud and exploitation. When a credit card company issues a pre-approved credit card to a senior citizen, it must send fraud alerts not only to the senior but also to a trusted contact person the senior designates, such as a family member or spouse. Additionally, banks and credit unions must train their fraud detection staff to recognize warning signs of financial exploitation targeting seniors—such as unusual ATM withdrawals, sudden account changes, large gift card purchases, or unexplained wire transfers—and notify affected seniors within 24 hours if suspicious activity occurs. The Consumer Financial Protection Bureau must issue final regulations implementing these requirements within 180 days of the bill's enactment. Seniors can waive the requirement to alert a trusted contact person by signing a waiver acknowledging the increased fraud risk, which the card issuer must keep on file for at least five years.