Investor Choice Act of 2024
The Investor Choice Act of 2024 prohibits financial firms (brokers, dealers, investment advisers) from requiring mandatory arbitration in disputes with retail investors. It bans clauses in contracts or bylaws that force investors to use arbitration instead of court or class action lawsuits. The bill voids such mandatory arbitration provisions in new agreements and existing contracts (except for arbitrations already started before enactment). This directly affects retail investors who gain the right to choose court or class action options for securities-related disputes.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
President
Introduced Jan 31, 2024
Last action Jan 31, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jan 31, 2024
Committee
Referred to the House Committee on Financial Services.
lower
Jan 31, 2024
Introduced
Introduced in House
lower
1 primary · 6 co-sponsors
Sponsors
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