Financial Exploitation Prevention Act of 2023 This bill addresses the redemption of securities involving the potential financial exploitation of an adult by allowing an open-end investment company to elect to comply with certain procedures. (Open-end investment management companies offer securities in pooled investment vehicles such as mutual funds.) Specifically, the bill allows for the delay of the redemption of a security issued by an open-end investment management company if the company reasonably believes the redemption involves the financial exploitation of an individual age 65 or older or an individual age 18 or older who is unable to protect his or her own interests. The company may initially delay the redemption for up to 15 days and, upon making a determination of exploitation, may delay the redemption an additional 10 days. In the event of delay, the company must hold the amounts related to the redemption in a demand deposit account. Additionally, the Securities and Exchange Commission must make legislative and regulatory recommendations to address the financial exploitation of these adults.
No TikTok on United States Devices Act This bill imposes sanctions on the parent company of the TikTok social media service, ByteDance Limited, as long as it is involved with TikTok. Specifically, the President must impose property-blocking sanctions on ByteDance or any successor entity or subsidiary if it is involved in matters relating to (1) TikTok or any successor service; or (2) information, video, or data associated with such a service. The Office of the Director of National Intelligence (ODNI) must report to Congress on any national security threats posed by TikTok, including the ability of China's government to access or use the data of U.S. users of TikTok. Within 180 days of this bill's enactment, ODNI must brief Congress on the implementation of the bill.
Expanding Access to Capital for Rural Job Creators Act This bill requires the Advocate for Small Business Capital Formation within the Securities and Exchange Commission to report on issues encountered by rural-area small businesses.
A joint resolution disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions".