This legislation directs the Bureau of Consumer Financial Protection (BCFP) to issue a final rule within 180 days to combat financial exploitation of senior citizens. The rule will require any card issuer that provides a pre-approved credit card to a senior citizen to provide fraud alerts upon activation. These alerts must be sent to both the cardholder and a designated individual, such as a relative or spouse, who is at least 25 years old, unless the cardholder signs a waiver acknowledging increased risk. The BCFP's rule also mandates that depository institutions and credit unions provide comprehensive training to employees involved in fraud detection services. This training will focus on identifying account activity indicative of senior citizen financial exploitation. Institutions must then notify any senior citizen with an account within 24 hours of such suspicious activity, including irregular use of ATMs, credit cards, online banking, wire transfers, or unusual cash withdrawals, among other specified indicators.