For those of you who are interested, the text of the bill proposed on Friday is here.
One thought on “Text of Investor Choice Act Banning Mandatory Arbitration for Securiites Disputes”
Has Congress given any thought to including brokerage firm employees in this bill? If arbitration is so bad for customers, why does the SEC and FINRA require employees of brokerage firms to arbitrate their disputes? The same concepts apply.
And, since the government is the one forcing brokerage firms and employees to arbitrate with customers, this sounds like a constitutional issue as well.
Has Congress given any thought to including brokerage firm employees in this bill? If arbitration is so bad for customers, why does the SEC and FINRA require employees of brokerage firms to arbitrate their disputes? The same concepts apply.
And, since the government is the one forcing brokerage firms and employees to arbitrate with customers, this sounds like a constitutional issue as well.