The CFPB's announcement focuses on addressing the financial harm caused by domestic violence and elder abuse, particularly how abusers exploit coerced debt and credit systems.
Rohit Chopra emphasized that expanding protections against identity theft can help survivors of domestic violence regain their financial independence, which is critical for recovery.
The rulemaking aims to gather public insights on the consequences of coerced debt and the difficulties survivors face in overcoming systemic financial obstacles.
The Bureau is particularly interested in how coerced debt affects vulnerable groups, including women, people of color, older Americans, and foster children.
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