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H.R. 9331: STOP Payments Fraud Act of 2026

119th Congress · introduced 2026-06-18 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 692.

federal

What does this mean?

Official title

STOP Payments Fraud Act of 2026

Plain summary

Strengthening Transaction Oversight and Preventing Payments Fraud Act of 2026 or the STOP Payments Fraud Act of 2026 This bill establishes additional grounds for banks to pause the processing of deposited checks and wire transfers. Under current law, banks are generally required to make deposited funds available in one to two business days, depending on the type of deposit and with limited exceptions. Under the bill, receiving banks are allowed to delay the processing of checks or wire transfers that they reasonably suspect are fraudulent. The bill allows for an initial hold that is not to exceed 10 days and an extended hold that is not to exceed 45 days. If an account is overdrawn due to a hold on a wire transfer and the depositor did not receive written notice, no overdraft fees may be applied. The bill allows the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) to determine when to apply safeguards to accounts determined to be at greater risk of fraud. Such safeguards must not apply for more than 60 days for each occurrence. These changes take effect 60 days after the issuance of implementing rules, which must be issued within one year of the bill's enactment. The bill also requires (1) the board and CFPB to determine whether to remove Treasury checks and cashier’s checks from expedited classification due to material losses from fraud, and (2) the Government Accountability Office to report on issues relating to the availability of funds and fraud protection.

Congressional Research Service summary (Reported to House), quoted unchanged (nonpartisan). Read the source.

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If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

STOP Payments Fraud Act of 2026

Source: Congressional Research Service summary (Reported to House)

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Officials and money

Sponsor: Rep. Kim, Young [R-CA-40] · 3 cosponsors

Money: CBO cost estimate: H.R. 9331, STOP Payments Fraud Act of 2026 (2026-09-30) No linked contracts or vendors yet.

Words on this page, explained (1)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr9331 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills