STOP Payments Fraud Act of 2026 Strengthening Transaction Oversight...
To amend the Expedited Funds Availability Act to provide exceptions in the case of fraudulent checks or wire transfers, and for other purposes.
This bill, HB9331, aims to update the Expedited Funds Availability Act to include exceptions for fraudulent checks and wire transfers. If passed, it will help protect consumers from payment fraud by allowing banks to hold funds longer in cases of suspected fraud. This change could benefit people who might otherwise be victims of scams involving fake checks or unauthorized wire transfers.
The bill would primarily affect consumers and financial institutions. Consumers could see less impact from fraudulent transactions, while banks may need to adjust their processes for handling and verifying payments. The proposed changes are intended to provide a safeguard against financial loss due to fraud.
HB9331 was introduced on June 18, 2026, and referred to the House Committee on Financial Services. On June 30, 2026, the committee reviewed the bill, made some changes, and voted to report it back to the House with an amendment. It has not yet been debated by the full House.
