I’m sure this possible, but I’m new to rigging and none of the tutorials I’ve found addressed it. I want the bone to deform the mesh enough to move the limb, but I want it constrained so that my mesh-human can’t turn into Elastigirl.
There’s an IK Stretch option in the bone panel. If you set that to zero on the arm (or leg) bones, then they should keep their dimensions.
You’ll need to tweak the rig to add an extra ‘Hand’ bone to be a parent to all the finger bones. That way you can keep it stuck to the end of the arm with a Copy Location constraint targeting the tail of the forearm bone.