ABSTRACT

H. Rept. 117-315: Empowering States to Protect Seniors from Bad Actors Act, Report to Accompany H.R. 5914, May 10, 2022   [open pdf - 666KB]

From the Purpose and Summary: "On November 9, 2021, Representative Gottheimer introduced H.R. 5914, the 'Empowering States to Protect Seniors from Bad Actors Act', which would move the responsibility for administering the Senior Investor Protection Grant Program established by Sec. 989A of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) from the Consumer Financial Protection Bureau to the Securities and Exchange Commission [SEC]. The bill would establish an interdivisional task force within the SEC to review grant applications and oversee the administration of the program. The bill would authorize $10 million annually in appropriations for the program for the period of FY 2023-2028. The bill would provide that the entities that would be eligible to apply for grants under the program are state securities regulators and state insurance regulators, and would cap the amount of grant funding that could be awarded to any single 'eligible entity' at $500,000."

Report Number:
H. Rept. 117-315: House of Representatives Report 117-315
Publisher:
Date:
2022-05-10
Copyright:
Public Domain
Retrieved From:
U.S. Government Publishing Office: https://www.gpo.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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