US HB5336 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 11-0)
Status: Introduced on December 6 2019 - 25% progression, died in committee
Action: 2019-12-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on December 6 2019 - 25% progression, died in committee
Action: 2019-12-06 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Investor Choice Act of 2019
Sponsors
Rep. Bill Foster [D-IL] | Rep. Carolyn Maloney [D-NY] | Rep. Gregory Meeks [D-NY] | Rep. Sean Casten [D-IL] |
Rep. Stephen Lynch [D-MA] | Rep. Janice Schakowsky [D-IL] | Rep. James McGovern [D-MA] | Rep. Lacy Clay [D-MO] |
Rep. Madeleine Dean [D-PA] | Rep. Denny Heck [D-WA] | Rep. Mark Pocan [D-WI] |
History
Date | Chamber | Action |
---|---|---|
2019-12-06 | House | Referred to the House Committee on Financial Services. |
2019-12-06 | House | Introduced in House |
Same As/Similar To
SB2992 (Related) 2019-12-05 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Alternative dispute resolution, mediation, arbitration
Civil actions and liability
Consumer affairs
Finance and financial sector
Financial services and investments
Securities
Civil actions and liability
Consumer affairs
Finance and financial sector
Financial services and investments
Securities
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/5336/all-info |
Text | https://www.congress.gov/116/bills/hr5336/BILLS-116hr5336ih.pdf |