TRAPS Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4936 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4936 To establish a Task Force for Recognizing and Averting Payment Scams, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES August 8, 2025 Mr. Nunn of Iowa (for himself and Mr. Himes) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To establish a Task Force for Recognizing and Averting Payment Scams, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Taskforce for Recognizing and Averting Payment Scams Act'' or the ``TRAPS Act''. SEC. 2. DEFINITIONS. In this Act: (1) Payment.--The term ``payment'' means any mechanism through which an individual can electronically transfer funds to another individual via a platform or intermediary. (2) Secretary.--The term ``Secretary'' means the Secretary…