The Vote
Rep. Katherine Cammack voted in favor of the Financial Exploitation Prevention Act on the House floor this week, joining an overwhelming bipartisan majority that passed the measure. Cammack, who has served in Congress for six years, represents Florida's 3rd congressional district.
The bill, which aims to protect older Americans and adults with disabilities from financial fraud, passed with a vote of 414-2. Cammack's Yes vote aligned with her party, as 206 Republicans supported the measure.
What the Bill Does
The Financial Exploitation Prevention Act allows investment companies and transfer agents to pause account withdrawals for individuals age 65 or older, or age 18 or older with mental or physical impairments, if they suspect financial exploitation is occurring. Companies can initially delay a redemption for up to 15 days and, upon determining exploitation, may delay it an additional 10 days.
The bill also requires investment companies to notify the Securities and Exchange Commission if they choose to follow these procedures. The SEC would be tasked with making recommendations to address financial exploitation of older adults and adults with impairments.
The bill was introduced in March 2025 and had strong support from both parties, with 11 cosponsors, including seven Republicans and four Democrats.
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