Josh Gottheimer (D-NJ)
Senior Security Act of 2025
A Democratic bill with 2 Republican cosponsors · See all 2 cosponsors
Last activity — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
In the other chamber's committee
Passed one chamber and has been handed to a committee in the other.
The committee decides whether it goes any further, and most bills that reach a committee never leave it. A committee that simply does nothing kills a bill without anyone ever voting against it, so no news from here is usually the news.
Its path through Congress
- Introduced
- Passed House voice vote
- In Senate committee
The House by voice vote (members called out yes or no together): no member's position on it was recorded.
What this bill would do
This Act establishes the Senior Investor Taskforce within the Securities and Exchange Commission. The Taskforce is led by a Director who reports to the Chairman and is tasked with addressing challenges faced by investors over the age of 65. Key responsibilities include identifying issues like financial exploitation and cognitive decline, as well as recommending regulatory changes. The Taskforce must issue reports every two years to various Congressional committees. Additionally, the Act mandates a GAO study regarding the economic costs and frequency of financial exploitation among senior citizens. The Taskforce is set to terminate after a 10-year period.
Yes· 3 of 4
- Scored +9
Would people over 65 be better off under this?
The bill directly targets the needs of investors over 65 to protect them from financial exploitation and cognitive decline.
- Scored +9
Would retired people be better off under this?
The bill provides significant oversight and protection for the financial security of retirees.
- Scored +7
Does this give people more protection from unfair business practices?
The bill enhances consumer protection for seniors by establishing a taskforce to identify financial exploitation and regulatory gaps.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Identification of Financial Risks: The Taskforce is charged with identifying challenges that senior investors face, specifically including problems associated with financial exploitation and cognitive decline (Section 2, paragraph 6A).
-
Regulatory Improvements: The Taskforce will identify areas where senior investors could benefit from changes to Commission regulations or rules of self-regulatory organizations (Section 2, paragraph 6B).
-
Increased Transparency and Information: The Taskforce must issue a report every two years containing statistical information, summaries of recent trends, and key observations regarding senior investors (Section 2, paragraph 7).
-
Addressing Financial Exploitation: The Act requires a GAO study to understand the economic costs of financial exploitation of senior citizens, including losses incurred by victims and various public and private agencies (Section 3, subsection b, paragraph 1).
-
Understanding Risk Factors: The GAO study will seek information on factors that contribute to an increased risk of exploitation, such as social isolation, illness, or loss of spouse (Section 3, subsection b, paragraph 2).
Potential Negative Impacts for People
-
No Additional Compensation: Members appointed to the Taskforce will serve without receiving any compensation in addition to their regular salaries as federal officers or employees (Section 2, paragraph 4).
-
Limited Duration of Oversight: The Taskforce is scheduled to terminate after a 10-year period (Section 2, paragraph 9).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would retired people be better off under this? — The bill provides significant oversight and protection for the financial security of retirees. Would people over 65 be better off under this? — The bill directly targets the needs of investors over 65 to protect them from financial exploitation and cognitive decline.
- Economy And Finance
- Does this give people more protection from unfair business practices? — The bill enhances consumer protection for seniors by establishing a taskforce to identify financial exploitation and regulatory gaps.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill increases transparency through mandated reports and a GAO study on senior financial exploitation.
- 7/22/2025
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 7/21/2025
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3504-3505)
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3504-3505)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 1469.
- Considered under suspension of the rules. (consideration: CR H3504-3506)
- Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- 6/3/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-124.
- Placed on the Union Calendar, Calendar No. 94.
- 5/20/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
- 5/19/2025
- 1 Cosponsor added.
- 2/21/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Zachary NunnRepublican · Iowa
Ann WagnerRepublican · Missouri