H.R. 2620: Investor Choice Act of 2021

117th Congress · introduced 2021-04-16 · Finance and Financial Sector · Latest: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 23.

federal

Follow this bill, step by step

Where it came from: introduced 2021-04-16 · official record
Who proposed it: Rep. Foster, Bill [D-IL-11] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 27 - 23. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Investor Choice Act of 2021

Plain summary

Investor Choice Act of 2021 This bill prohibits broker-dealers and investment advisers from including mandatory arbitration, forum selection restrictions, or bans on class action suits in a customer or client agreement. Issuers of securities are also prohibited from mandating arbitration in a shareholder agreement.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Investor Choice Act of 2021

Source: Congressional Research Service summary (Introduced in House)

AI explanation – may be wrong, check the official text

No AI explanation yet. It takes up to a minute to write and is then saved for everyone.

Limited to a few requests an hour per person.

The strongest published arguments

Arguments for (supporters)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Arguments against (opponents)

Needs sources: no published arguments on this side yet. We only show items backed by a published source. Suggest one.

Alternatives

Needs sources: no published alternatives yet (for example a different bill, a law instead of an amendment, or keeping current law). We only show items backed by a published source. Suggest one.

How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Foster, Bill [D-IL-11] · 7 cosponsors

Cost estimate: CBO cost estimate: H.R. 2620, Investor Choice Act of 2021 (2022-11-17)

Cosponsors on this site

Gregory W. Meeks (D-NY), Sean Casten (D-IL), Nydia M. Velázquez (D-NY), Jesús G. "Chuy" García (D-IL), Janice D. Schakowsky (D-IL), Madeleine Dean (D-PA)

Sponsor's campaign money: Rep. Foster, Bill [D-IL-11] reported raising $2.6 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-117hr2620.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/hr>

Record fed-us-cong117-hr2620 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117