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TRAPS Act

H.R. 4936 Rep. Zachary Nunn (R-IA-3) In committee
Bill text PDF
  1. Introduced Aug 8
  2. Committee Aug 8
  3. Passed House Next
  4. Passed Senate Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Aug 8, 2025Next: House vote
41d ago Sep 16, 2026: Ordered to be Reported (Amended) by the Yeas and Nays: 49 - 0.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
2companies, 3 filings
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10trades in the last 90 days
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Summary

The TRAPS Act establishes a Task Force for Recognizing and Averting Payment Scams within the Treasury Department to study and recommend ways to prevent electronic payment scams. Sec. 2, Definitions: Defines key terms including 'payment' as any electronic fund transfer via a platform or intermediary, 'Secretary' as the Treasury Secretary, and 'Task Force' as the group created by the bill. Sec. 3, Task Force on Payment Scams: Requires the Treasury Secretary to create the Task Force within 90 days, chaired by the Secretary or a designee, with members from agencies like the CFPB, FCC, FTC, DOJ, and others, plus appointed representatives from financial institutions, credit unions, digital payment networks, community banks, consumer groups, tech industry associations, and up to five victim or stakeholder representatives. The Task Force must examine scam trends, adopt a cross-sector approach, and include victim-support stakeholders. It must meet at least three times in the first year. Its duties include evaluating anti-scam best practices, assessing international prevention efforts, reviewing current scam methods, developing consumer education strategies, coordinating law enforcement efforts, consulting state/local/Tribal agencies, recommending federal legislation, and addressing business email compromise scams. Members serve without extra compensation. Within one year of establishment, the Task Force must report to Congress and online on its findings, strategy, legislative recommendations, and ways to enhance inter-agency cooperation, with annual updates thereafter. The Task Force is exempt from the Federal Advisory Committee Act and sunsets three years after submitting its first report.

Summary of the bill text as introduced in House (Aug 8, 2025), generated by SecBot from the official bill text; the Library of Congress summary is not yet published.

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.