National Senior Investor Initiative Act of 2025

Floor Speech

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Mrs. WAGNER. Mr. Speaker, I thank the chairman for yielding.

Mr. Speaker, I rise in support of H.R. 1469, the Senior Security Act. I thank my colleague, Representative Gottheimer, for his work on this vital piece of bipartisan legislation that will strengthen protections for senior investors. I am proud to be the co-lead of this bill.

Fraud and exploitation jeopardize the integrity of our capital markets. When this illicit activity specifically targets senior investors, it poses an even graver threat, impacting those who often rely most on their investments.

According to the FBI, in 2023, senior investors fell victim to scams and fraud totaling over $3.4 billion in losses, an increase of approximately 11 percent from the year prior.

The Senior Security Act is designed to reinforce and enhance our safeguards protecting senior investors from financial fraud and abuse.

H.R. 1469 creates the senior investor task force within the Securities and Exchange Commission which is tasked with reporting on industry trends and challenges impacting investors over the age of 65. The task force will also make recommendations for changes to existing legislation and regulations to address the unique issues faced by our senior investors.

Mr. Speaker, H.R. 1469 has received strong bipartisan support in the past, passing by suspension in the last three Congresses. It remains a commonsense solution to ensure that senior investors receive adequate protection against fraud and exploitation.

Again, I thank Mr. Gottheimer for his work on this bill and his partnership on other efforts to protect senior investors, including my Financial Exploitation Prevention Act.

Mr. Speaker, I urge my colleagues to support H.R. 1469.

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