S 2684
117th Congress
Senate
Finance and Financial Sector
Consumer Financial Choice and Capital Markets Protection Act of 2021
Introduced: August 9, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 9, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Aug 9, 2021
Introduced in Senate
Plain-English summary
Consumer Financial Choice and Capital Markets Protection Act of 2021
This bill allows a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. A money market fund that elects to do so shall not be subject to specified requirements related to the imposition of liquidity fees. (A money market fund is a type of mutual fund that invests in liquid, short-term assets.)
Current law limits the provision of certain federal assistance directly to any money market fund. The bill requires disclosure of this limitation on federal assistance in a money market's advertising and sales literature.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1