Requires the Treasury Secretary to set up a task force within 90 days that studies payment scams, recommends prevention steps, and reports to Congress within a year.

• Requires the Secretary of the Treasury to establish the Task Force within 90 days of enactment, with members from federal financial and consumer regulators, the Department of Justice, banks, credit unions, digital payment networks, consumer groups, and scam victim support networks.
• Directs the Task Force to review scam methods such as spoofed calls, scam texts, and malicious ads, assess approaches used in other countries, and recommend consumer education and law enforcement coordination.
• Requires an initial report within one year of the Task Force's creation, with annual updates made public online.
• Ends the Task Force three years after it submits its required report.

• Financial Services Committee (House)

Finance and Financial Sector