STOP Payments Fraud Act of 2026

This bill lets banks put a hold on checks and wire transfers if they have a reasonable suspicion that the transaction might be fraudulent. Right now, banks usually have to make deposited money available within one to two business days, but this bill would allow them to hold suspected fraudulent deposits for up to 10 days initially and up to 45 days with an extended hold. If a bank holds a wire transfer and the account goes negative because of that hold, the bank cannot charge overdraft fees unless it gave the depositor written notice. The bill also requires federal agencies to look into whether certain types of checks, like Treasury checks and cashier's checks, should lose their fast-processing status due to fraud losses, and it calls for a government report on fraud protection and how quickly funds are made available.

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