[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7510 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 7510

To establish an interagency Working Group to study financial safety and 
            inclusion for survivors, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 29, 2024

Ms. Velazquez introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To establish an interagency Working Group to study financial safety and 
            inclusion for survivors, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Survivor Financial Safety and 
Inclusion Working Group Act''.

SEC. 2. WORKING GROUP FOR FINANCIAL SAFETY AND INCLUSION FOR SURVIVORS.

    (a) Establishment.--There is established an interagency Working 
Group (in this Act referred to as the ``Working Group'') to study the 
following:
            (1) How the Congress and covered agencies can support 
        regulated financial institutions in safely and confidentially 
        collecting data on--
                    (A) the types and prevalence of economic abuse 
                tactics that are being carried out through regulated 
                financial institutions; and
                    (B) the impacts of economic abuse tactics on 
                consumers and regulated financial institutions.
            (2) Data from regulated financial institutions on the 
        statistics, trends, and impacts of economic abuse carried out 
        through regulated financial institutions.
            (3) How regulated financial institutions can improve 
        existing financial products and services, and design and offer 
        new financial products and services specially-tailored to meet 
        the financial and safety needs of survivors.
            (4) How the recommendations and guidance provided by the 
        Working Group account for any additional financial or safety 
        needs of historically underbanked and underserved communities, 
        including rural communities, low- and moderate-income 
        communities, federally recognized Indian Tribes, and 
        territories of the United States.
            (5) Any legislative or regulatory authority necessary to 
        implement any recommendations or guidance provided by the 
        Working Group.
    (b) Membership.--The Working Group shall be comprised of the 
following:
            (1) The head of each of the following, or the head's 
        designee:
                    (A) The Department of the Treasury.
                    (B) The Board of Governors of the Federal Reserve 
                System.
                    (C) The Bureau of Consumer Financial Protection.
                    (D) The Federal Deposit Insurance Corporation.
                    (E) The Office of the Comptroller of the Currency.
                    (F) The National Credit Union Administration.
                    (G) The Securities and Exchange Commission.
            (2) A State insurance commissioner selected by the State 
        insurance commissioners (through the National Association of 
        Insurance Commissioners).
            (3) One individual who has expertise in economic abuse and 
        has experience working with and advocating on behalf of 
        survivors of domestic violence, appointed by the Secretary of 
        the Treasury.
            (4) One individual who has expertise in consumer protection 
        and has experience working with and advocating on behalf of 
        consumers, appointed by the Secretary of the Treasury.
            (5) One individual who is a member of, and has experience 
        working with and advocating on behalf of, communities that have 
        been historically underbanked and unbanked, including rural 
        communities, low- and moderate-income communities, federally 
        recognized Indian Tribes, and territories of the United States, 
        appointed by the Secretary of the Treasury.
            (6) Any other individuals, but no more than four, appointed 
        by the Secretary of the Treasury, as the Secretary determines 
        appropriate. 
    (c) Chairperson.--The Secretary of the Treasury (or the Secretary's 
designee, as applicable) shall serve as the chairperson of the Working 
Group.
    (d) Terms.--
            (1) In general.--A term of the Working Group shall be 2 
        years.
            (2) Limitation.--Each individual appointed under paragraphs 
        (3) through (6) of subsection (b) may only serve one term.
            (3) First term.--The first term of the Working Group shall 
        begin on January 1st of the first calendar year that begins 
        after the date of enactment of this Act.
    (e) Meetings.--The Working Group shall convene no later than 60 
days after the beginning of the first term of the Working Group and 
shall meet no less than twice a year thereafter.
    (f) Compensation.--Members of the Working Group shall receive no 
additional compensation by reason of their service on the Working 
Group.
    (g) Travel Expenses.--Members of the Working Group may be 
reimbursed by the Federal Government for travel expenses, including per 
diem in lieu of subsistence, in accordance with applicable provisions 
under subchapter I of chapter 57 of title 5, United States Code, while 
away from home or regular places of business in performance of service 
for the Working Group.
    (h) Annual Reports.--
            (1) In general.--The Working Group shall submit annually to 
        the Committee on Financial Services of the House of 
        Representatives and the Committee on Banking, Housing, and 
        Urban Affairs of the Senate, a report regarding--
                    (A) the activities of the Working Group; and
                    (B) the study required under subsection (a).
            (2) Public availability.--The report under paragraph (1) 
        shall be made publicly available online and in accessible 
        format that adheres to section 4(b) of the Plain Writing Act of 
        2010 (5 U.S.C. 301 note) and Executive Order 13166 (65 Fed. 
        Reg. 159).
    (i) Congressional Testimony.--The head of an agency described under 
subparagraphs (A) through (G) of subsection (b)(1) shall, when 
providing the semi-annual written testimony and appearing before the 
Committee on Financial Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs of the Senate, include 
information on the activities of the agency as part of the Working 
Group.
    (j) Transparency.--To the greatest extent possible, the Working 
Group shall operate in a transparent manner that adheres to the 
requirements of chapter 10 of title 5, United States Code, with the 
exception that the Working Group shall be permitted to freely 
communicate both during and between meetings in a confidential manner 
to discuss non-public information and other sensitive and non-public 
issues.
    (k) Definitions.--In this section:
            (1) Covered agency.--The term ``covered agencies'' means 
        the following:
                    (A) The Department of the Treasury.
                    (B) The Board of Governors of the Federal Reserve 
                System.
                    (C) The Bureau of Consumer Financial Protection.
                    (D) The Federal Deposit Insurance Corporation.
                    (E) The Office of the Comptroller of the Currency.
                    (F) The National Credit Union Administration.
                    (G) The Securities and Exchange Commission.
                    (H) The State insurance regulators.
            (2) Domestic violence.--The term ``domestic violence'' 
        means the use or attempted use of physical abuse or sexual 
        abuse, or a pattern of any other coercive behavior committed, 
        enabled, or solicited to gain or maintain power and control 
        over a survivor, including verbal, psychological, economic, or 
        technological abuse that may or may not constitute criminal 
        behavior, by a person who--
                    (A) is a current or former spouse or intimate 
                partner of the survivor, or person similarly situated 
                to a spouse of the survivor;
                    (B) is cohabitating, or has cohabitated, with the 
                survivor as a spouse or intimate partner;
                    (C) shares a child in common with the survivor; or
                    (D) commits acts against a youth or adult survivor 
                who is protected from those acts under the family or 
                domestic violence laws of the jurisdiction.
            (3) Economic abuse.--The term ``economic abuse'' means 
        behavior that is coercive, deceptive, or unreasonably controls 
        or restrains a person's ability to acquire, use, or maintain 
        economic resources to which they are entitled, including using 
        coercion, fraud, or manipulation, to--
                    (A) restrict a person's access to money, assets, 
                credit, or financial information;
                    (B) unfairly use a person's personal economic 
                resources, including money, assets, and credit, for 
                one's own advantage;
                    (C) exert undue influence over a person's financial 
                and economic behavior or decisions, including forcing 
                default on joint or other financial obligations;
                    (D) exploit powers of attorney, guardianship, or 
                conservatorship; or
                    (E) fail or neglect to act in the best interest of 
                a person to whom one has a fiduciary duty.
            (4) Federally recognized indian tribe.--The term 
        ``federally recognized Indian Tribe'' has the meaning given the 
        term ``Indian tribe'' in section 102 of the Federally 
        Recognized Indian Tribe List Act of 1994 (25 U.S.C. 5130).
            (5) Low- or moderate-income community.--The term ``low- or 
        moderate-income community'' means a census tract designated as 
        low-income or moderate-income by the Financial Institutions 
        Examinations Council on a public website of the Council.
            (6) Regulated financial institution.--The term ``regulated 
        financial institution'' means--
                    (A) a depository institution, as defined under 
                section 3 of the Federal Deposit Insurance Act (12 
                U.S.C. 1813);
                    (B) a Federal credit union or a State credit union, 
                as such terms are defined, respectively, under section 
                101 of the Federal Credit Union Act (12 U.S.C. 1752);
                    (C) an investment adviser, as such term is defined 
                under section 202(a) of the Investment Advisers Act of 
                1940 (15 U.S.C. 80b-2(a));
                    (D) a broker or dealer, as those terms are defined, 
                respectively, under section 3(a) of the Securities 
                Exchange Act of 1934 (15 U.S.C. 78c(a));
                    (E) an insurance company, as such term is defined 
                under section 2(a) of the Investment Company Act of 
                1940 (15 U.S.C. 80a-2(a));
                    (F) an insurance agency, meaning any business 
                entity that sells, solicits, or negotiates insurance 
                coverage;
                    (G) a transfer agent, as such term is defined under 
                section 3(a) of the Securities Exchange Act of 1934 (15 
                U.S.C. 78c(a));
                    (H) an insurance producer, meaning an individual 
                who is required under State law to be licensed in order 
                to sell, solicit, or negociate insurance coverage; and
                    (I) an investment advisor representative, meaning 
                an individual who--
                            (i) is employed by, or associated with, an 
                        investment adviser; and
                            (ii) does not perform solely clerical or 
                        ministerial acts.
            (7) Rural area.--The term ``rural area'' means any county 
        that is mostly rural or completely rural in the most recent 
        decennial census.
            (8) State.--The term ``State'' means each of the 50 States, 
        the District of Columbia, Puerto Rico, and any territory or 
        possession of the United States.
            (9) Survivor.--The term ``survivor'' means an individual 
        who is or has previously been subjected to domestic violence, 
        including economic abuse.
            (10) Territory of the united states.--The term ``territory 
        of the United States'' means the Commonwealth of Puerto Rico, 
        Guam, the United States Virgin Islands, American Samoa, and the 
        Commonwealth of the Northern Mariana Islands.
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