Allow financial institutions additional time to investigate suspicious checks and wire transfers before funds are released to help prevent payment fraud.

The STOP Payments Fraud Act closes this gap by allowing financial institutions additional time to investigate flagged checks and wire transfers before funds are released, helping prevent fraud before consumers suffer financial losses.

Young Kim introduced the STOP Payments Fraud Act to let banks place extended holds on suspicious checks and wire transfers while fraud is investigated.

Rep. Young Kim Introduces STOP Payment Fraud Act to Protect Consumers from Financial Fraud - Congresswoman Young Kim
primary · press_release · model gpt-5.4-mini