New Bill Aims to Empower Financially Vulnerable Adults

H.R. 4096: Financial Empowerment and Protection Act has been introduced with 2 cosponsors. This bill requires companies to allow consenting cohabitating adults to open joint accounts and prohibits fees for early lease termination for victims of domestic violence.

The bill mandates covered companies to permit consenting cohabitating adults to open joint accounts for managing services and bill payments. Both adults must agree, receive account information, and privacy notices. Non-compliance can result in civil actions and fines of up to $1,000 per violation.

Companies like DUK, SRE, AAPL, T, and VZ may be affected by the joint account provisions. Representative Sean Casten has proposed bills like Fair Calculations in Civil Damages Act and Climate Change Financial Risk Act.

Representative Sean Casten’s estimated net worth is $3.3M, ranking 182nd in Congress. He has $222.7K in publicly traded assets. Data on his stock trading, totaling up to $545.0K, is available on Quiver Quantitative’s website. This information is not financial advice.

Read more at Nasdaq: New Bill: Representative Sean Casten introduces H.R. 4096: Financial Empowerment and Protection Act