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U.S. senators introduce Investor Choice Act
Other - FEBRUARY 6, 2024

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U.S. senators introduce Investor Choice Act

by Andrea Zander

Last week, Congressman Bill Foster (D-IL) and Senator Jeff Merkley (D-OR) introduced the Investor Choice Act, legislation to prohibit pre-dispute mandatory (or forced) arbitration agreements and ban prohibitions on class action lawsuits in customer contracts in certain financial sectors. Investors are often forced to agree to these terms to receive services from broker-dealers or investment advisers.

“Individuals shouldn’t need to surrender their legal rights because they choose to work with a financial adviser or broker-dealer to plan for their retirement and invest their hard-earned money,” said Foster. ”This legislation levels the playing field for consumers and prevents them from being victims of a rigged system that denies them fair legal recourse if they are wronged. I’m proud to work with Senator Merkley on this important legislation for American consumers.”

“Every consumer deserves a fair shot at justice when they’ve been wronged or taken adv

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