Task Force to End Financial Abuse Act of 2024

house

senate

president

Legislation Details

Establishes the Interagency Task Force on Coerced Debt, directed by the Secretary of the Treasury and the Director of the Bureau of Consumer Financial Protection.
Aims to address economic abuse, particularly coerced debt, which is prevalent in abusive relationships.
Defines coerced debt as debt incurred through coercive control or identity theft by an abuser.
Recognizes the severe consequences of coerced debt, including damaged credit, debt collection, and potential bankruptcy for survivors.
Mandates a coordinated approach across federal, state, and local agencies to support survivors of coerced debt.
Task Force composition includes representatives from various federal agencies, advocacy organizations, financial institutions, and credit reporting agencies.
Responsibilities of the Task Force include:
- Defining “coerced debt.”
- Identifying the scope and impact of coerced debt on domestic violence survivors.
- Facilitating collaboration and training for law enforcement and service providers.
- Engaging with stakeholders to inform policy development.
- Providing recommendations for legislative and regulatory changes to protect survivors.
Requires a report to be published and submitted to relevant congressional committees within one year of all members being appointed.
The Task Force will terminate 60 days after submitting the required report.

Establishes the Interagency Task Force on Coerced Debt, directed by the Secretary of the Treasury and the Director of the Bureau of Consumer Financial Protection.
Aims to address economic abuse, particularly coerced debt, which is prevalent in abusive relationships.
Defines coerced debt as debt incurred through coercive control or identity theft by an abuser.
Recognizes the severe consequences of coerced debt, including damaged credit, debt collection, and potential bankruptcy for survivors.
Mandates a coordinated approach across federal, state, and local agencies to support survivors of coerced debt.
Task Force composition includes representatives from various federal agencies, advocacy organizations, financial institutions, and credit reporting agencies.
Responsibilities of the Task Force include:
- Defining “coerced debt.”
- Identifying the scope and impact of coerced debt on domestic violence survivors.
- Facilitating collaboration and training for law enforcement and service providers.
- Engaging with stakeholders to inform policy development.
- Providing recommendations for legislative and regulatory changes to protect survivors.
Requires a report to be published and submitted to relevant congressional committees within one year of all members being appointed.
The Task Force will terminate 60 days after submitting the required report.