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New Law Lets Funds Freeze Suspicious Withdrawals | Raleigh News
A new bill, the Financial Exploitation Prevention Act, just passed the House and could revolutionize how mutual funds and ETFs protect seniors from financial scams. For the first time, these firms can legally freeze suspicious withdrawals from vulnerable investors over 65—or adults who can’t protect themselves—for up to 25 days without a court order. With scam losses against older adults soaring 59% last year and AI-powered fraud growing more sophisticated, this legislation gives financial advisors the power to act fast—potentially saving families from catastrophic financial ruin. Now heading…
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