{time}  1230

  This issue, fraud against our seniors, has gone on long enough, and
we must take action.
  Many of us have had the personal experience of caring for a parent or
loved one as they grow older. They took care of us when we needed it
most, and it is our responsibility, our duty, to return the favor.
  This legislation, with strong bipartisan support, will create a new
tool to protect parents, grandparents, and everyday American families
across the United States.
  I thank Congressman Gottheimer for joining me in introducing this
bill. By working together, we can ensure that not only government but
also the American financial system is doing everything possible to
protect against fraud and exploitation.
  Mr. Speaker, I strongly urge support of this legislation.
  Ms. WATERS. Mr. Speaker, I yield myself the balance of my time.
  Mr. Speaker, with the advent of new technologies like artificial
intelligence, senior fraud is more prevalent today than it ever has
been, and it is only going to get worse. We need to do everything in
our power to make sure that seniors have the appropriate protections to
comfortably enjoy retirement.
  Chair Wagner's H.R. 2478 is part of that effort, allowing mutual fund
providers to delay redemptions of a senior's shares if they suspect
they may be falling victim to a scam.
  Mr. Speaker, we are in a terrible time in this country. We are in a
terrible time because we have so many difficulties with the economy and
the groceries are higher. Gasoline is out of control. The price is
absolutely unusual and unnecessary, except the President of the United
States said he doesn't care.
  As a matter of fact, the President of the United States said he loves
inflation, for example, and we know what his tariffs have done to our
economy. Yet, he is in another country saying that he doesn't care
about the financial situation that we are confronted with.
  This is a good bill. This is a bill to try and protect our seniors.
Our seniors need protection. Many of them are on fixed incomes. Many of
them don't have a lot of money, and if they are ripped off, they may
end up homeless and on the street. The President doesn't care about
that. Yes, this is a bipartisan bill. Bipartisan, for those who are
listening, means that both sides of the aisle, Democrats and
Republicans, agree, but we don't know whether the President will agree.
For all I know, he may veto the bill. We don't know what to expect from
him.
  We are in a terrible situation with the President of the United
States of America. We know he canceled the bill's signing that is
supported by both sides of the aisle, in both the House and the Senate,
knowing that we have 800,000 people who are on the streets in this
country every night and he is not willing to generously step up to the
plate and say: I support a bill that is going to get housing built for
the average family. We are going to support a bill to keep people off
the street, homelessness. We are going to support a bill that ensures
that people have an opportunity to pursue their talent and to do what
they can to make their lives more comfortable.
  If he can't support that and he is canceling it today, I don't know
what we can expect about a good bill like this that is protecting
seniors. I just ask all of the Members of the House of Representatives,
vote ``aye'' on this bill. Vote ``aye'' on the bill.
  Mr. Speaker, for those who have influence with the President of the
United States, call him and tell him: Mr. President, don't veto this.
Mr. President, come on back and sign this housing bill so we can deal
with this housing crisis. Mr. President, get us out of this war in
Iran. Mr. President, do something to deal with this economy where
people are getting hurt and harmed every day.
  Mr. Speaker, we could go on talking about it. It is embarrassing. The
American people should not have to hear this kind of conversation, but
those of us who were sent here by the people we represent have to speak
truth to power. That is what we do when we come up with legislation
with both sides of the aisle supporting it, in both the House and
Senate supporting it. We have to get in the President's face and say:
Sign these bills. He has to talk about these problems. He has to deal
with this economy, and that is a bit of what we are doing today. I have
added to it a little bit, but that is my responsibility.
  Mr. Speaker, I yield back the balance of my time.
  Mr. HILL of Arkansas. Mr. Speaker, I yield myself the balance of my
time.
  Mr. Speaker, I thank the ranking member and Mr. Gottheimer for
working with the majority on this bill. I will add that this is a very
complex subject across the board trying to protect our seniors and our
consumers across the country, particularly in financial services.
  I think this bill is a step in the right direction, but we have many
other things that the committee has been working on on a bipartisan
basis. The Postal Service, the Secret Service, the Federal
communications oversight, Federal Trade Commission, all these Federal
agencies have influence on whether we are going to beat the criminals
at their game. As they get artificial intelligence and new technologies
to try to get in the pocketbooks, in the investment statements, into
the credit cards of American consumers and households, know that people
like Ann Wagner, Josh Gottheimer, Maxine Waters, and French Hill are
saying no.
  We want to give the tools to our financial institutions and
enforcement to do something about it, but it also takes an education of
our families. You can't turn your password over to people. You can't
trust people when they call you on the phone and tell you to bring
$5,000 down to the courthouse or put money in a bitcoin ATM. We also
have that obligation every day on this House floor to educate our
families to trust but verify when somebody approaches them about their
very, very valuable financial information.
  A Member of Congress from North Carolina called me and said: Is there
any way you would be willing to talk to this lawyer, this family in
North Carolina? Husband and wife retired, the spouse, the wife, said: I
have been called. I need to send $250,000 for this investment
opportunity. The husband said: I don't know that we should do that. She
said: Well, I have done my homework. She called the bank, Mr. Speaker,
and said: Would you wire

$250,000 to this investment opportunity. And the banker said: Ms.
Jones, I mean, are you sure? You have never done this before. You don't
have that kind of money.

  Mr. Speaker, I use that as a small example. It didn't turn out well,
but it is about educating. Again, the work that Chairwoman Wagner and
Representative Gottheimer are doing is what we need to be doing. We are
going to continue to bring bills to this House floor that protect our
households from the fraudsters that are now going parabolic in their
talent to steal our money through artificial intelligence, cell phones,
text messages, emails, romance schemes, whatever that is, but she
pointed it out, and I am with her. We are going to do this together.
  Mr. Speaker, I urge a ``yes'' vote on this bill. I thank the
gentlewoman for bringing it to the floor today, and I yield back the
balance of my time.
  The SPEAKER pro tempore. The question is on the motion offered by the
gentleman from Arkansas (Mr. Hill) that the House suspend the rules and
pass the bill, H.R. 2478, as amended.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds
being in the affirmative, the ayes have it.
  Mr. HILL of Arkansas. Mr. Speaker, I object to the vote on the ground
that a quorum is not present and make the point of order that a quorum
is not present.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX, further
proceedings on this question will be postponed.
  The point of no quorum is considered withdrawn.

              SMALL BUSINESS LENDING FRAUD PREVENTION ACT