N※N

To help abuse survivors, Biden watchdog launches rulemaking

The U.S. Consumer Financial Protection Bureau (CFPB) has initiated a rulemaking process to develop regulations that would facilitate easier access to financial records for survivors of domestic abuse, as announced on December 9, 2024. This move aims to help survivors of domestic violence, elder abuse, and human trafficking by allowing them to obtain financial records more readily, which is crucial for escaping abusive situations, securing housing, and proving abuse in legal proceedings. The CFPB's action follows a request from the White House's Gender Policy Council to address the financial barriers faced by abuse survivors. The proposed rules would require financial institutions to provide quick access to these records upon request, potentially reducing the time and complexity involved in gathering necessary documentation. Public comments on the proposed rule are being accepted until February 7, 2025.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/help-abuse-survivors-biden-watchdog-launches-rulemaking-2024-12-09/ ]