Task Force to End Financial Abuse Act of 2024

This bill establishes a federal task force to address "coerced debt" - a form of financial abuse where abusers force victims to take on debt using their names, often through threats, identity theft, or fraud. The task force, co-led by the Treasury Secretary and Consumer Financial Protection Bureau Director, will study how this issue affects domestic violence survivors, coordinate responses across agencies (including Health, Housing, Justice, and financial regulators), and gather input from advocates and industry representatives. It will define coerced debt, assess its financial and legal impacts on survivors, and develop recommendations for legislative or regulatory changes. The task force must submit its findings and proposals to Congress within one year, but does not directly change existing laws or protections.