Rep. Ellison Introduces Investor Choice Act of 2015

Statement

Rep. Keith Ellison introduced the Investor Choice Act of 2015 (H.R. 1098) today, a bill to end pre-dispute mandatory (or "forced") arbitration agreements and ban prohibitions on class action lawsuits in customer service contracts between investment advisers and broker-dealers and their clients.

"Working Americans shouldn't have to sign away their rights in order to work with a financial advisor or broker dealer to build a secure retirement," Rep. Ellison said. "An investor's right to recover monetary damages through legal action is critical. The Investor Choice Act helps level the playing field. Working Americans will be more eager to invest their hard earned dollars when we give them more rights in the financial marketplace. By removing unfair advantages, we can create jobs and strengthen our economy while enabling families to build a secure retirement."

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