,i  #aae? ,,congress  #a/ ,session  ,h4 
,r4 #adad  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #g1 #bjag,mr4    
,%]man 7= himself1 ,ms4 ,max9e ,wat]s ( 
,cali=nia1 ,mr4 ,cony]s1 ,mr4 ,johnson (
 ,georgia1 ,ms4 ,bonamici1 ,mr4 ,coh51  
,mr4 ,c>twright1 ,mr4 ,grijalva1 ,ms4   
,hanabusa1 ,ms4 ,jackson ,lee1 ,ms4     
,jayapal1 ,mr4 ,t$ ,lieu ( ,cali=nia1   
,ms4 ,l(gr51 ,mr4 ,lyn*1 ,mr4 ,sean     
,patrick ,maloney ( ,new ,york1 ,ms4    
,norton1 ,mr4 ,payne1 ,mr4 ,rask91 &    
,ms4 ,s*ak[sky7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on        
,f9ancial ,s]vices  ,a ,,bill  ,to am5d 
! ,tru? 9 ,l5d+ ,act & ! ,electronic    
,fund ,transf] ,act to provide ju/ice to
 victims ( fraud4  #a4 ,%ort title ,?is 
,act may be cit$ z ! ,ju/ice = ,victims 
( ,fraud ,act ( #bjag4  #b4 ,f9d+s ,!   
,congress f9ds ! foll[+3  7#a7 ,!       
,bureau ( ,consum] ,f9ancial ,protection
 f\nd t ,wells ,f>go managem5t implem5t$
 sales inc5tives1 includ+ an            
inc5tive-comp5sation program1 9 "p to   

increase ! numb] ( bank+ products &     
s]vices t its employees sold to its     
cu/om]s4  7#b7 ,! ,bureau ( ,consum]    
,f9ancial ,protection f\nd t ,wells     
,f>go employees engag$ 9 improp] sales  
practices to satisfy sales goals "u     
,wells ,f>go's inc5tive comp5sation     
program1 includ+ op5+ z _m z #a1ecd1bhj 
*eck+ acc\nts & #efe1ddc cr$it c>d      
acc\nts us+ consum]s' in=mation )\t _! k
 or cons5t betwe5 ,may #bjaa & ,july    
#bjae4  7#c7 ,wells ,f>go successfully  
claim$ 9 ,jabb>i v4 ,wells ,f>go t      
cu/om]s _h sign$ away _! rights to hold 
,wells ,f>go acc\ntable 9 c\rt = claims 
( fraud because ^? cu/om]s 7 b\nd to a  
=c$ arbitration clause = _! legitimate  
acc\nts4  7#d7 ,aft] ,wells ,f>go       
publicly ent]$ a settlem5t ) ,f$]al     
regulators = ! op5+ ( ?\s&s ( unau?oriz$
 cu/om] acc\nts1 ,wells ,f>go claim$ 9  
,mit*ell et al4 v4 ,wells ,f>go et al4 t
 cu/om]s' fraud claims mu/ cont9ue to be
 =c$ into arbitration4  7#e7 ,sev]al    
c\rts h det]m9$ t despite claims ( fraud

 ov] unau?oriz$ acc\nts op5$ )\t cu/om] 
k or cons5t1 ^? cu/om]s are /ill b\nd by
 contracts =c+ ^? claims into           
arbitration bas$ on ! c\rts'            
int]pretation ( ! ,f$]al ,arbitration   
,act4  7#f7 ,! ,f$]al ,arbitration ,act 
7n[ codifi$ z *apt] #a ( title #i1      
,unit$ ,/ates ,code7 0 int5d$ to apply  
to disputes betwe5 comm]cial entities ( 
g5]ally simil> sophi/ication & b>ga9+   
p[]1 b a s]ies ( decisions by ! ,supreme
 ,c\rt ( ! ,unit$ ,/ates h int]pret$ !  
,f$]al ,arbitration ,act z applicable to
 claims ( fraud4  7#g7 ,consum]s h no   
mean+ful *oice :e!r to submit _! claims 
to arbitration & are typically unaw>e t 
!y h giv5 up _! rights to file claims 9 
c\rt4  #c4 ,arbitration ( consum]       
disputes relat$ to cr$it c>d acc\nts    
,*apt] #b ( ! ,tru? 9 ,l5d+ ,act 7#ae   
,u4,s4,c4 #afca et seq47 is am5d$ by    
add+ at ! end ! foll[+ 7& ! table (     
cont5ts = su* *apt] is con=m$           
accord+ly73  #adj;,b4 ,validity &       
en=ceability  7a7 ,def9itions ,9 ?is    

section-- 7#a7 ! t]m cov]$ dispute means
 a dispute t is n subject to a f9al     
judgm5t by a c\rt2 &  7#b7 ! t]m        
pr$ispute arbitration agreem5t means any
 agreem5t betwe5 a p]son & a consum]    
provid+ = arbitration ( any future      
dispute betwe5 ! p>ties4  7b7 ,validity 
& en=ceability ,no predispute           
arbitration agreem5t %all be valid or   
en=ceable 9 a cov]$ dispute t is relat$ 
to a cr$it c>d t 0 n issu$ 9 response to
 a reque/ or application = t cr$it c>d  
acc\nt4  7c7 ,applicability ,!          
applicability ( ?is section to a        
pr$ispute arbitration agreem5t %all be  
det]m9$ by a ,/ate or ,f$]al c\rt (     
compet5t jurisdiction4  4  #d4          
,arbitration ( consum] disputes relat$  
to cov]$ acc\nts ,! ,electronic ,fund   
,transf] ,act 7#ae ,u4,s4,c4 #afic et   
seq47 is am5d$ by ins]t+ aft] section   
#ibj 7#ae ,u4,s4,c4 #afico-#b7 ! foll[+3
  #ibj;,a4 ,validity & en=ceability  7a7
 ,def9itions ,9 ?is section-- 7#a7 ! t]m
 cov]$ acc\nt--  7,a7 means a dem&      

deposit1 sav+s deposit1 or o!r asset    
acc\nt 7o!r ?an an occasional or        
incid5tal cr$it balance 9 an op5 end    
cr$it plan z def9$ 9 section #ajc7;i771 
z describ$ 9 regulations ( ! ,bureau1   
e/abli%$ prim>ily = p]sonal1 family1 or 
h\sehold purposes1 includ+ dem& acc\nts1
 "t acc\nts1 negotiable ord] ( )drawal  
acc\nts1 & %>e draft acc\nts2 &  7,b7   
does n include an acc\nt held by a      
f9ancial in/itution pursuant to a bona  
fide tru/ agreem5t2  7#b7 ! t]m cov]$   
dispute means a dispute t is n subject  
to a f9al judgm5t by a c\rt2 &  7#c7 !  
t]m pr$ispute arbitration agreem5t means
 any agreem5t betwe5 a f9ancial         
in/itution & a consum] provid+ =        
arbitration ( any future dispute betwe5 
! p>ties4  7b7 ,validity & en=ceability 
,no predispute arbitration agreem5t %all
 be valid or en=ceable 9 a cov]$ dispute
 t is relat$ to a cov]$ acc\nt t 0 n    
issu$ 9 response to a reque/ or         
application = t cov]$ acc\nt4  7c7      
,applicability ,! applicability ( ?is   

section to a pr$ispute arbitration      
agreem5t %all be det]m9$ by a ,/ate or  
,f$]al c\rt ( compet5t jurisdiction4  4 
#e4 ,rule ( con/ruction ,no?+ 9 !       
am5dm5ts made by ?is ,act %all be       
con/ru$-- 7#a7 to au?orize ! imposition 
( a requirem5t to submit a dispute to   
arbitration2 or  7#b7 to re/rict any    
c\rt f rul+ t a requirem5t to submit a  
dispute to arbitration is invalid or    
un5=ceable4