To direct the Secretary of the Treasury and the Director of the Bureau of Consumer Financial Protection to establish the Interagency Task Force on Coerced Debt, and for other purposes.
About This Bill
Committee
Latest Action · October 11, 2024
Referred to the House Committee on Financial Services.
This bill establishes an Interagency Task Force on Coerced Debt to address a form of financial abuse where abusers force victims to take on debt through threats, identity theft, or fraud. The task force will be co-chaired by the Secretary of the Treasury and the Director of the Bureau of Consumer Financial Protection, and will include representatives from multiple federal agencies focused on health, housing, law enforcement, and consumer protection, as well as representatives from domestic violence organizations, financial institutions, and credit counseling nonprofits. Within one year of the task force being fully assembled, it must publish a public report documenting the scope and impact of coerced debt on domestic violence survivors, recommend legislative and regulatory changes to protect victims, and propose strategies for improved coordination across agencies and training for law enforcement and financial institutions. The task force will sunset 60 days after submitting its final report to Congress. The bill addresses the finding that economic abuse occurs in nearly all abusive relationships and is the primary reason victims remain in or return to abusive situations.
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