A bill to amend the Truth in Lending Act and the Electronic Fund Transfer Act to provide justice to victims of fraud.

United States115th CongressS-552Senate
Updated: Mar 7, 2017

Summary

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.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-1414: To amend the Truth in Lending Act and the Electronic Fund Transfer Act to provide justice to victims of fraud.

Referred to the House Committee on Financial Services.

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Senate

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