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S. 1171 117th Congress Senate

Investor Choice Act of 2021

Official title: A bill to amend the Securities Exchange Act of 1934 to prohibit mandatory pre-dispute arbitration agreements, and for other purposes.

Introduced: April 15, 2021 Introduced by: Jeff Merkley Democratic · Oregon See on congress.gov
Finance and Financial Sector Alternative dispute resolution, mediation, arbitrationCivil actions and liabilityFinancial services and investmentsSecurities
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Apr 15, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 15, 2021
Introduced in Senate
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 Latest action April 15, 2021

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

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • HR 2620 Identical bill Investor Choice Act of 2021
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 5
D
Cortez Masto, Catherine
Nevada · May 20, 2021
 D
Blumenthal, Richard
Connecticut · Apr 15, 2021
 D
Durbin, Richard J.
Illinois · Apr 15, 2021
 D
Warren, Elizabeth
Massachusetts · Apr 15, 2021
 D
Whitehouse, Sheldon
Rhode Island · Apr 15, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1171: Investor Choice Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-S-1171/
MLA
"S. 1171: Investor Choice Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1171/.
Bluebook (legal)
S. 1171, 117th Cong. (2026), https://openamerica.io/bill/117-S-1171/.
Markdown link
[S. 1171: Investor Choice Act of 2021](https://openamerica.io/bill/117-S-1171/)
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