,,ii  #aae? ,,congress  #a/ ,session    
,s4 #eeb  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,m>* #g1 #bjag,mr4     
,br[n 7= himself1 ,mr4 ,leahy1 ,mrs4    
,murray1 ,mr4 ,wyd51 ,mr4 ,durb91 ,mr4  
,re$1 ,mr4 ,m55dez1 ,mr4 ,s&]s1 ,mr4    
,casey1 ,mr4 ,:iteh\se1 ,mr4 ,w>n]1 ,mr4
 ,m]kley1 ,mr4 ,frank51 ,mr4 ,blum5?al1 
,mr4 ,s*atz1 ,ms4 ,hirono1 ,ms4 ,w>r51  
,ms4 ,heitkamp1 & ,mr4 ,van ,holl57     
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,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 t--   
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]s2  7#b7 ! ,bureau (       
,consum] ,f9ancial ,protection f\nd t   
,wells ,f>go employees engag$ 9 improp] 
sales practices to satisfy sales goals  
"u an inc5tive comp5sation program (    
,wells ,f>go1 includ+ op5+ z _m z       
#a1ecd1bhj *eck+ acc\nts & #efe1ddc     
cr$it c>d acc\nts us+ in=mation (       
consum]s )\t _! k or cons5t betwe5 ,may 
#bjaa & ,july #bjae2  7#c7 ,wells ,f>go 
successfully claim$ 9 ,jabb>i v4 ,wells 
,f>go  ,co41 ,no4 #ae-;cv-#jbaei-,,vc   
7,n4,d4 ,cal4 ,sept4 #bc1 #bjae7 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\nts2  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 v4 ,wells ,f>go ,bank ,n4,a41  
,no4 #af-jjiff 7,d4 ,utah compla9t fil$ 
,sept4 #af1 #bjaf7 t ! fraud claims (   
cu/om]s mu/ cont9ue to be =c$ into      

arbitration2  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 ! int]pretation ( c\rts ( title
 #i1 ,unit$ ,/ates ,code2  7#f7 ! ,unit$
 ,/ates ,arbitration ,act 7#dc ,/at4    
#hhc1 *4 #bac7 7codifi$ at 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 has int]pret$  
title #i1 ,unit$ ,/ates ,code1 to apply 
to claims ( fraud2 &  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[+3  #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