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S 3491 114th Congress Senate Finance and Financial Sector Alternative dispute resolution, mediation, arbitration Bank accounts, deposits, capital Consumer credit Fraud offenses and financial crimes

Justice for Victims of Fraud Act of 2016

Introduced: December 1, 2016 See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 1, 2016
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Dec 1, 2016
Introduced in Senate
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 Plain-English summary Congressional Research Service

Justice for Victims of Fraud Act of 2016

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.

What's happening now December 1, 2016

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

 Related & companion bills 1
  • HR 6423 Related bill Justice for Victims of Fraud Act of 2016
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 8 Independent 1
I
Sanders, Bernard
Vermont · Dec 8, 2016
 D
Blumenthal, Richard
Connecticut · Dec 1, 2016
 D
Durbin, Richard J.
Illinois · Dec 1, 2016
 D
Hirono, Mazie K.
Hawaii · Dec 1, 2016
 D
Merkley, Jeff
Oregon · Dec 1, 2016
 D
Murray, Patty
Washington · Dec 1, 2016
 D
Reed, Jack
Rhode Island · Dec 1, 2016
 D
Warner, Mark R.
Virginia · Dec 1, 2016
 D
Warren, Elizabeth
Massachusetts · Dec 1, 2016
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3491: Justice for Victims of Fraud Act of 2016. 114th Congress. Open America. https://openamerica.io/bill/114-S-3491/
MLA
"S. 3491: Justice for Victims of Fraud Act of 2016." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-3491/.
Bluebook (legal)
S. 3491, 114th Cong. (2026), https://openamerica.io/bill/114-S-3491/.
Markdown link
[S. 3491: Justice for Victims of Fraud Act of 2016](https://openamerica.io/bill/114-S-3491/)
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