Financial Empowerment and Protection Act

This bill aims to make it easier and safer for people living together to manage shared bills, and to protect survivors who need to leave a lease early. It requires certain companies to let consenting adults who live together open a joint account to manage services and pay bills. Each person’s name must be on the account, and either person can ask for copies of bills, mail or email notices, and get access to the online account portal. Companies must clearly tell both people what information will be shared and send any required privacy notices to each of them. If a company doesn’t follow these rules, a harmed person can sue for up to $1,000 for each violation.

The bill also says that people who are survivors of domestic violence, dating violence, sexual assault, or stalking in certain housing programs can end a lease early without paying an early termination fee.

Key points

• Who is affected: Adults living together who share services and bills with “covered companies,” and survivors in certain housing programs .
• What changes: Companies must allow joint accounts, give both people access to account info and portals, provide clear sharing notices and required privacy notices, and face penalties if they fail. Survivors can exit a lease early without fees .
• When: The joint-account rules start 180 days after the bill becomes law.