House Bill 2620
117th Congress(2021-2022)
Investor Choice Act of 2021
Introduced
Introduced in House on Apr 16, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2620
Congress
117
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Investor Choice Act of 2021
This bill prohibits broker-dealers and investment advisers from including mandatory arbitration, forum selection restrictions, or bans on class action suits in a customer or client agreement. Issuers of securities are also prohibited from mandating arbitration in a shareholder agreement.
April 16, 2021
11/16/2021
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 23.
11/16/2021
Committee Consideration and Mark-up Session Held.
04/16/2021
Referred to the House Committee on Financial Services.
04/16/2021
Introduced in House
Public Record
Record Updated
Mar 8, 2023 7:58:39 PM