IIB 
117TH CONGRESS 
1ST SESSION H. R. 2959 
IN THE SENATE OF THE UNITED STATES 
MAY 19, 2021 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To establish the Consumer and Investor Fraud Working 
Group to help protect consumers and investors from 
fraud during the COVID–19 pandemic, to assist con-
sumers and investors affected by such fraud, and for 
other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘COVID–19 Fraud Pre-
vention Act’’. 
SEC. 2. CONSUMER AND INVESTOR FRAUD WORKING 
GROUP. 
(a) ESTABLISHMENT.—Not later than the end of the 
30-day period beginning on the date of enactment of this 
Act, the Director of the Bureau of Consumer Financial 
Protection and the Securities and Exchange Commission 
shall, jointly, establish a working group to be known as 
the ‘‘Consumer and Investor Fraud Working Group’’ (the 
‘‘Working Group’’). 
(b) DUTIES.—The Working Group shall facilitate col-
laboration between the Bureau of Consumer Financial 
Protection and the Securities and Exchange Commission 
on— 
(1) providing resources to consumers and inves-
tors to avoid fraud during the COVID–19 pandemic; 
(2) providing resources, including information 
on the availability of legal aid resources, to con-
sumers and investors who have been adversely im-
pacted by such fraud; and 
(3) such other topics as the Working Group de-
termines appropriate. 
(c) COORDINATION WITH OTHER AGENCIES.—In 
carrying out the duties described under subsection (b), the 
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Working Group shall coordinate and collaborate with other 
Federal and State government agencies, as appropriate. 
(d) QUARTERLY REPORT.—The Working Group shall 
issue a quarterly report to the Committee on Financial 
Services of the House of Representatives and the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate on the progress of the Working Group and summa-
rizing— 
(1) the resources made publicly available to 
consumers by the Working Group; 
(2) any public enforcement action taken jointly 
or individually by any member of the Working 
Group; 
(3) the number and description of consumer 
complaints received by the Bureau of Consumer Fi-
nancial Protection and the Securities and Exchange 
Commission regarding fraud related to the COVID– 
19 pandemic; and 
(4) any other actions of the Working Group. 
(e) SUNSET.—This section shall cease to have any 
force or effect on and after December 31, 2022. 
SEC. 3. DETERMINATION OF BUDGETARY EFFECTS. 
The budgetary effects of this Act, for the purpose of 
complying with the Statutory Pay-As-You-Go Act of 2010, 
shall be determined by reference to the latest statement 
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titled ‘‘Budgetary Effects of PAYGO Legislation’’ for this 
Act, submitted for printing in the Congressional Record 
by the Chairman of the House Budget Committee, pro-
vided that such statement has been submitted prior to the 
vote on passage. 
Passed the House of Representatives May 18, 2021. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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