View or download a PDF of the letter here.

November 10, 2021 

Dear Chairwoman Waters, Ranking Member McHenry, and Members of the Committee: 

Americans for Financial Reform strongly supports draft bill H.R. 2620, the Investor Choice Act of  2021, introduced by Rep. Bill Foster (D-Ill), which would restrict issuers, brokers, dealers, and  investment advisers from forcing investors to enter into pre-dispute arbitration agreements  and ban class action prohibitions. 

The ability to take corporate bad actors to court if they break the law is crucial to investor  protection and to effective enforcement of securities laws. Forced arbitration unfairly protects  wrongdoers from being held accountable and allows abusive conduct to continue.  

We thank the Committee for consideration of this bill. If you have any further questions please contact Andrew Park at andrew@ourfinancialsecurity.org 

Sincerely,  

Americans for Financial Reform