Justice for Victims of Fraud Act of 2016

Summary

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.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 1 December 2016

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 1 December 2016

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• Introduced in Senate

  summary · EN · 1 December 2016

  Open at official source

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