Investor Choice Act of 2024
This bill died when its Congress ended.
Bills don't carry over between Congresses. Without re-introduction in a new session, it cannot advance.
This bill prevents broker-dealers, investment advisers, and companies from forcing customers, clients, and shareholders into private arbitration or blocking them from joining class-action lawsuits. Instead of resolving disputes through private arbitration, investors and shareholders would have the option to pursue legal claims in court and join together with others in class-action suits. The bill affects anyone who invests through brokers or investment advisers, as well as company shareholders.
- Prohibit broker-dealers and investment advisers from requiring mandatory arbitration in customer agreements
- Ban restrictions on class-action lawsuits in customer and client agreements
- Prevent security issuers from mandating arbitration in shareholder agreements
- Preserve investor right to pursue court claims instead of arbitration
Filed in the House
This house bill has been filed and is working its way through Congress. It will need to pass both the House and the Senate, then be signed by the President to become law.
Who introduced this
Bill Foster
DemocratU.S. Representative · IL-11
6 cosponsors — all Democrat
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