Janie Wynn Protecting Elders from Financial Exploitation Act
The source supplies the latest action, but no lifecycle stage.
Latest action (3 Sep 2026): Referred to the House Committee on Financial Services.
What this bill does
H.R. 10242, the Janie Wynn Protecting Elders from Financial Exploitation Act, would direct the Bureau of Consumer Financial Protection, working with the Treasury Department and the Financial Crimes Enforcement Network, to issue a final rule within 180 days of enactment. The rule would require card issuers that send pre-approved credit cards to senior citizens to provide fraud alerts—by phone, email, or text—upon activation, sent both to the cardholder and to a designated contact age 25 or older who is a relative, spouse, or otherwise connected to the cardholder. Cardholders could waive the second-alert requirement in writing, with issuers keeping the waiver for at least five years. The rule would also require banks and credit unions to train fraud-detection staff to recognize signs of financial exploitation of seniors and notify affected senior account holders within 24 hours of specified suspicious activity, such as unusual withdrawals, address changes, added authorized users, or large gift-card purchases.
The bill primarily affects senior citizens who hold pre-approved credit cards or bank/credit union accounts, as well as card issuers, depository institutions, and credit unions, which would face new notification, training, and documentation obligations.
The bill was introduced on September 3, 2026, by Rep. Clay Higgins and referred to the House Committee on Financial Services. It has not yet been voted on, and further committee action or floor consideration would be needed before it could advance.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
3 Sep 2026
Referred to the House Committee on Financial Services.
Common questions
- What does H.R. 10242 do?
- H.R. 10242, the Janie Wynn Protecting Elders from Financial Exploitation Act, would direct the Bureau of Consumer Financial Protection, working with the Treasury Department and the Financial Crimes Enforcement Network, to issue a final rule within 180 days of enactment. The rule would require card issuers that send pre-approved credit cards to senior citizens to provide fraud alerts—by phone, email, or text—upon activation, sent both to the cardholder and to a designated contact age 25 or older who is a relative, spouse, or otherwise connected to the cardholder. Cardholders could waive the second-alert requirement in writing, with issuers keeping the waiver for at least five years. The rule would also require banks and credit unions to train fraud-detection staff to recognize signs of financial exploitation of seniors and notify affected senior account holders within 24 hours of specified suspicious activity, such as unusual withdrawals, address changes, added authorized users, or large gift-card purchases. The bill primarily affects senior citizens who hold pre-approved credit cards or bank/credit union accounts, as well as card issuers, depository institutions, and credit unions, which would face new notification, training, and documentation obligations. The bill was introduced on September 3, 2026, by Rep. Clay Higgins and referred to the House Committee on Financial Services. It has not yet been voted on, and further committee action or floor consideration would be needed before it could advance.
- Has H.R. 10242 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 10242. Check the latest action and official source below.
- Who sponsored H.R. 10242?
- H.R. 10242 was sponsored by Rep. Higgins, Clay [R-LA-3] (R-LA), with 0 cosponsors.
- What's the latest action on H.R. 10242?
- Referred to the House Committee on Financial Services. (3 Sep 2026).
Related bills in Finance and Financial Sector
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More bills from Rep. Higgins, Clay [R-LA-3]
Protecting Elders From Government Error Act
Defend American Agriculture Act
Restoring Integrity and Efficiency to Inspector General Oversight Act of 2026
Comment Integrity and Management Act
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