The Financial Empowerment and Protection Act requires utility companies, internet and phone providers, landlords, mortgage lenders, childcare providers, and similar service providers to allow cohabitating adults to open joint accounts for managing their services and bills with both adults' consent. The bill applies to a broad range of covered companies including electric, gas, and water utilities, internet and telephone service providers, cable television distributors, property owners and managers, mortgage servicers, and state-licensed childcare providers. Each joint account must be held in the names of both adults, and either party can request account information, bills, and access to online portals, though the company must notify account holders about what information will be shared. Companies that fail to meet these requirements can be sued for up to $1,000 per violation, and the rules take effect 180 days after the bill becomes law.