Us Congress 2023-2024 Regular Session

Us Congress Senate Bill SB3835

Introduced

2/29/24

Refer

2/29/24

Caption

Survivor Financial Safety and Inclusion Working Group Act

Impact

The bill will facilitate collaboration among various federal agencies, including the Department of Treasury and the Bureau of Consumer Financial Protection, to influence future financial policies and practices. It highlights the importance of understanding how economic abuse occurs and the prevalent tactics used by abusers to rob survivors of financial independence. Through this focused study, the working group aims to generate data that can be instrumental in shaping laws aimed at protecting survivors and fostering their financial wellbeing.

Summary

SB3835, also known as the Survivor Financial Safety and Inclusion Working Group Act, aims to establish a federal interagency working group tasked with studying financial safety and inclusion issues affecting survivors of domestic violence and economic abuse. The bill underscores the interplay between financial services and survivors' needs, emphasizing the necessity for financial institutions to be aware of economic abuse tactics and how these can impact survivors' access to financial resources. The establishment of this working group provides a platform for research, policy recommendations, and improved resource allocation towards supporting these vulnerable populations.

Conclusion

Ultimately, SB3835 presents an opportunity for systemic change that recognizes economic abuse as a significant barrier to financial security for survivors of domestic violence. By systematically studying these challenges and proposing actionable recommendations, the bill aims to enable the creation of tailored financial services that promote inclusion and safety for those impacted by such abuse.

Contention

Notable points of contention may arise concerning the scope and effectiveness of the working group in addressing the multifaceted issues of economic abuse. There might be debate around the adequacy of current financial products and services in meeting the unique needs of survivors. Additionally, gathering sensitive data on domestic violence from financial institutions presents privacy and ethical considerations, particularly regarding the confidentiality of their clients.

Latest SB3835 Activity

Companion Bills

US HB7510

Related Survivor Financial Safety and Inclusion Working Group Act

Similar Bills

US HB2110

Safe Vehicle Access for Survivors Act

US HB9852

To establish an open season for enrollment in the Survivor Benefit Plan under subchapter II of chapter 73 of title 10, United States Code.

US HB1700

Social Security Expansion Act

US HB185

Responsible Legislating ActThis bill establishes or modifies various federal programs and requirements, including those related to retirement accounts, penalties for certain sex offenses, foreign investment and ownership, and appropriations.The bill makes changes to retirement account contributions and distributions, including increasing the maximum amount that may be contributed to a Roth Individual Retirement Account (IRA) to include certain contributions to a Savings Incentive Match Plan for Employees (SIMPLE IRA) or Simplified Employee Pension (SEP) plan, subject to limitations. The bill establishes an enhanced penalty—an additional prison term of up to five years—for certain interstate human trafficking offenses or coercion of sexual activity that occurs in a school zone or related area.The Department of Commerce must report on efforts to increase foreign direct investment in semiconductor-related manufacturing and production. The Federal Maritime Commission must evaluate the effect of foreign ownership of marine terminals at the 15 largest U.S. container ports on U.S. economic security.The bill provides additional appropriations for the Departments of Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy.The bill extends mandatory livestock market reporting requirements through FY2025.The bill revises the required frequency of meetings held by a credit union's board of directors by decreasing the frequency for existing credit unions with satisfactory soundness ratings. The National Aeronautics and Space Administration's (NASA's) enhanced-use leasing authority is reauthorized through 2033.The bill requires hearings on the bill's implementation within one year of the date of enactment.