PlainBillCongress, translated.Legislation. Context. Public interest.Placed on the Union Calendar, Calendar No. 692.
Congressional Research Service
Version 07 · Reported to House · Sep 1, 2026
Strengthening Transaction Oversight and Preventing Payments Fraud Act of 2026 or the STOP Payments Fraud Act of 2026
This bill establishes additional grounds for banks to pause the processing of deposited checks and wire transfers. Under current law, banks are generally required to make deposited funds available in one to two business days, depending on the type of deposit and with limited exceptions.
Under the bill, receiving banks are allowed to delay the processing of checks or wire transfers that they reasonably suspect are fraudulent. The bill allows for an initial hold that is not to exceed 10 days and an extended hold that is not to exceed 45 days. If an account is overdrawn due to a hold on a wire transfer and the depositor did not receive written notice, no overdraft fees may be applied.
Showing the opening paragraphs of the official summary.
The bill allows the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) to determine when to apply safeguards to accounts determined to be at greater risk of fraud. Such safeguards must not apply for more than 60 days for each occurrence.
These changes take effect 60 days after the issuance of implementing rules, which must be issued within one year of the bill's enactment.
The bill also requires (1) the board and CFPB to determine whether to remove Treasury checks and cashier’s checks from expedited classification due to material losses from fraud, and (2) the Government Accountability Office to report on issues relating to the availability of funds and fraud protection.
People & committees
Rep. Kim, Young [R-CA-40] · R–CA
Legislative record
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Placed on the Union Calendar, Calendar No. 692.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-792.
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-792.
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
Committee Consideration and Mark-up Session Held
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Nov 3, 2026. Consult Congress.gov for the current record.
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Analyze H.R.9331 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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