money money money 845b preventing financial abuse: how financial product fine print & products are changing
Nov 12, 2025
Catherine Fitzpatrick, Founder of Flequity Ventures and creator of the Respect and Protect program, discusses the alarming issue of financial abuse, shedding light on how financial products can be misused for coercive control. She shares early warning signs, like micromanaging finances and draining joint accounts, as well as recommendations for banks to redesign products to better protect users. The importance of introducing explicit terms against financial abuse and engaging financial advisors in spotting these red flags is emphasized, along with the role of support networks.
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Money As A Tool Of Coercive Control
- Financial abuse is a form of domestic violence where money is used to control someone and restrict their independence.
- Catherine Fitzpatrick explains it often happens slowly and is hidden, making it hard for victims to recognize early.
Spot Early Financial Red Flags
- Watch for control over spending, constant receipt-checking, or one partner taking over money chores as red flags.
- Ask directly about access to bank accounts and whether someone else controls or hides financial information.
Abuse Hidden In Payment Descriptions
- Catherine recounts a case where a victim received one-cent deposits with abusive messages in the transaction description.
- Analysis of 11 million transactions found 8,000 severe abuse-related messages, including threats and stalking phrases.
