TRAPS Act

Senate Bill

S. 2019

119th Congress

TRAPS Act

In Committee

Introduced:Jun 10, 2025

Primary Sponsor

Mike Crapo

R - ID

Cosponsors

7

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill creates a federal task force to study payment scams and develop strategies to prevent them. The task force would bring together government agencies, financial institutions, technology companies, and consumer advocates to examine how scammers trick people into sending money electronically and recommend ways to stop these scams.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Introduced6/10/2025

StatusRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

ChamberSenate

Data from Congress.gov

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Vote Prediction

TRAPS Act

This bill creates a federal task force to study payment scams and develop strategies to prevent them. The task force would bring together government agencies, financial institutions, technology companies, and consumer advocates to examine how scammers trick pe

Community Breakdown

Pass

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0 predictions

This bill creates a federal task force to study payment scams and develop strategies to prevent them. The task force would bring together government agencies, financial institutions, technology companies, and consumer advocates to examine how scammers trick people into sending money electronically and recommend ways to stop these scams.

Bill Number: 2019
Introduced: 6/10/2025
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: TRAPS Act
Bill Number: 2019
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced: 6/10/2025
Summary: This bill creates a federal task force to study payment scams and develop strategies to prevent them. The task force would bring together government agencies, financial institutions, technology companies, and consumer advocates to examine how scammers trick people into sending money electronically a

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill creates a federal task force to study payment scams and develop strategies to prevent them. The task force would bring together government agencies, financial institutions, technology companies, and consumer advocates to examine how scammers trick people into sending money electronically and recommend ways to stop these scams.

Last updated: 2/28/2026

Key Points

Main provisions of the bill

The Treasury Secretary would establish a Task Force on Payment Scams within 90 days of the bill becoming law.
The task force would include representatives from multiple federal agencies, banks, credit unions, digital payment companies, consumer groups, and scam victims.
The task force would study current scam methods, review how other countries prevent payment fraud, and develop consumer education strategies.
Within one year, the task force must submit a public report to Congress with findings and recommendations for new laws or regulations to combat payment scams.
The task force would examine various scam tactics including fake phone calls, text messages, malicious websites, and business email fraud.

How This Impacts Americans

Potential effects on citizens and communities

This bill would affect anyone who uses electronic payment systems, including bank transfers, digital wallets, and online payment platforms. Financial institutions, technology companies, and telecommunications providers would be involved in developing anti-scam strategies. Consumers could benefit from improved protections and education about recognizing and avoiding payment scams, which cost Americans billions of dollars annually.