Justice for Victims of Fraud Act of 2017
- Last Action
- 3/7/2017
Actions
- 2017-03-07Referred to the House Committee on Financial Services.
- 2017-03-07Introduced in House
- 2017-03-07Introduced in House
CRS Summary
As of 2017-03-07 (00)
Justice for Victims of Fraud Act of 2017
This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account.
The bill excludes from this prohibition accounts held by a financial institution pursuant to a bona fide trust agreement.
Cosponsors (20)
- MAXINE WATERS (D-CA)
- JOHN CONYERS (D-MI)
- Henry Johnson (D-GA)
- Suzanne Bonamici (D-OR)
- Steve Cohen (D-TN)
- Matt Cartwright (D-PA)
- Raúl Grijalva (D-AZ)
- Colleen Hanabusa (D-HI)
- SHEILA JACKSON LEE (D-TX)
- Pramila Jayapal (D-WA)
- Ted Lieu (D-CA)
- ZOE LOFGREN (D-CA)
- Stephen Lynch (D-MA)
- Sean Maloney (D-NY)
- ELEANOR NORTON (D-DC)
- Donald Payne (D-NJ)
- Jamie Raskin (D-MD)
- JANICE SCHAKOWSKY (D-IL)
- Al Green (D-TX)
- Gwen Moore (D-WI)
Subjects
- Alternative dispute resolution, mediation, arbitration
- Bank accounts, deposits, capital
- Consumer credit
- Fraud offenses and financial crimes
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.