Chapter 11Financial Abuse of Victims of Domestic Violence

Section § 900

Explanation

Starting by January 1, 2027, the state will provide online resources for financial institutions and the public to help protect the assets of domestic violence survivors.

These resources will cover topics like the connection between domestic violence and financial security, the impact of financial abuse on survivors' jobs and credit, and the importance of respecting survivors' privacy and choices.

The state will use existing online materials from various sources to provide this information, and financial institutions accessing these resources won't be required to report domestic violence.

The resources will be updated annually to ensure they remain current.

(a)CA Financial Code § 900(a) Commencing on or before January 1, 2027, the department shall make available to financial institutions and the general public online resources related to financial abuse of victims of domestic violence for the purpose of protecting survivors’ assets and resources.
(b)CA Financial Code § 900(b) The online financial abuse resources shall include, but not be limited to, all of the following:
(1)CA Financial Code § 900(b)(1) Information on the nexus between domestic violence and financial security.
(2)CA Financial Code § 900(b)(2) Information on the prevalence and impacts of financial abuse as it relates to domestic violence and a survivor’s employment and credit history.
(3)CA Financial Code § 900(b)(3) Information regarding the heightened need to protect the privacy and to respect the integrity of each individual survivor customer of a financial institution.
(4)CA Financial Code § 900(b)(4) Information regarding the heightened need to respect the autonomy and agency of each individual survivor customer, including the survivor customer’s decision whether or not to inform law enforcement of the financial abuse.
(c)CA Financial Code § 900(c) The department may utilize existing internet websites, links, and other online resources and materials from state government departments, nonprofit organizations, and community groups, as appropriate, in order to meet the requirement described in subdivision (a).
(d)CA Financial Code § 900(d) This section does not require financial institutions using the information provided online by the department to become mandated reporters of domestic violence.
(e)CA Financial Code § 900(e) The department shall annually review and update the online resources required to be posted pursuant to subdivision (a).
financial abuse resources domestic violence survivors protecting survivors' assets financial security employment impact credit history survivor privacy survivor autonomy mandated reporting online resources state-provided information nonprofit organizations community groups annual updates
(Added by Stats. 2024, Ch. 650, Sec. 1. (AB 2422) Effective January 1, 2025.)