Empowering States to Protect Seniors from Bad Actors Act

This bill establishes a federal grant program to help states combat financial fraud targeting seniors aged 62 and older. It authorizes the SEC to award competitive grants (up to $500,000 annually per state agency, or $1 million for agencies handling both securities and insurance functions) to state securities commissions and insurance departments. Grant funds can be used for hiring staff to investigate fraud, training law enforcement, creating senior education materials, and developing state anti-fraud plans - but cannot cover general administrative costs. The program, funded at $10 million yearly from 2025-2030, requires states to report on grant usage and program effectiveness through annual audits and biennial evaluations.