HR 2978

Summary

Guarding Unprotected Aging Retirees from Deception Act of 2026 or the GUARD Act of 2026 This bill allows state, local, and tribal law enforcement agencies and grantees that receive funds from certain law enforcement grant programs to use the funds to investigate general financial fraud, elder financial fraud, and pig butchering. Pig butchering refers to a confidence and investment fraud in which a victim is gradually lured into transferring increasing amounts of money, generally in the form of cryptocurrency, into a fake virtual investment.  The bill allows federal law enforcement agencies to assist state, local, and tribal law enforcement agencies and fusion centers in the use of tracing tools for blockchain and related technology tools. Finally, the bill requires the Financial Crimes Enforcement Network (FinCEN) to report on efforts to combat general financial fraud, elder financial fraud, pig butchering, and scams, including an evaluation of any legislative recommendations to improve the efforts. The bill also requires FinCEN to report on the state of general financial fraud, elder financial fraud, pig butchering, and scams in the United States, including trends in the crimes.

Bill status

Status

Reported

Sponsor

Rep. Zachary Nunn [R-IA-3]

Cosponsors

51

Policy area

Crime and Law Enforcement

Introduced

2025-04-21

Latest action

2026-06-24: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.

Committee referrals

• Financial Services Committee: House · Reported By · 2026-06-24
• Financial Services Committee: House · Markup By · 2026-05-13
• Financial Services Committee: House · Referred To · 2025-04-21
• Judiciary Committee: House · Referred To · 2025-04-21

Recent actions

• 2026-06-24: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.
• 2026-06-24: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-709, Part I.
• 2026-05-13: Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
• 2026-05-13: Committee Consideration and Mark-up Session Held
• 2025-04-21: Referred to the Committee on the Judiciary, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.