,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #fcj  ,,9 ,,! ,,s5ate ,,( ,,!       
,,unit$ ,,/ates  ,febru>y #bh1 #bjai    
,mr4 ,br[n introduc$ ! foll[+ bill2 :i* 
0 read twice & ref]r$ to ! ,committee on
 ,bank+1 ,h\s+1 & ,urban ,affairs  ,a   
,,bill  ,to am5d ! ,consum] ,f9ancial   
,protection ,act ( #bjaj ) respect to   
arbitration4  #a4 ,%ort title  ,?is ,act
 may be cit$ z ! ,arbitration ,fairness 
= ,consum]s ,act4  #b4 ,purposes ,!     
purposes ( ?is ,act are to-- 7#a7       
prohibit pr$ispute arbitration agreem5ts
 t =ce arbitration ( future consum]     
f9ancial product or s]vice dispute2 &   
7#b7 prohibit agreem5ts & practices t   
int]f]e ) ! "r ( individuals & small    
bus9esses to p>ticipate 9 a jo9t1 class1
 or collective action relat$ to a       
consum] f9ancial product or s]vice      
dispute4  #c4 ,no validity or           
en=ceability ( pr$ispute arbitration    
agreem5ts or jo9t-action waiv]s  7a7 ,9 
g5]al ,subtitle ,c ( ! ,consum]         
,f9ancial ,protection ,act ( #bjaj 7#ab 

,u4,s4,c4 #eeca et seq47 is am5d$ by    
ins]t+ aft] section #ajcf 7#ae ,u4,s4,c4
 #eecf7 ! foll[+3  #ajcf;,a4 ,no        
validity or en=ceability ( pr$ispute    
arbitration agreem5ts or jo9t-action    
waiv]s  7a7 ,def9itions ,9 ?is section3 
7#a7 ,class action ,! t]m class action  
means a lawsuit 9 :i* #a or m p>ties    
seek or obta9 class treatm5t pursuant to
 rule #bc ( ! ,f$]al ,rules ( ,civil    
,proc$ure or comp>able rule or provision
 ( ,/ate law4  7#b7 ,consum] dispute ,! 
t]m consum] dispute means a dispute     
betwe5-- 7,a7 an individual1 includ+ an 
individual :o seeks c]tification z a    
class "u rule #bc ( ! ,f$]al ,rules (   
,civil ,proc$ure or a comp>able rule or 
provision ( ,/ate law1 :o = p]sonal1    
family1 or h\sehold purposes1 seeks or  
acquires--  7i7 real or p]sonal prop]ty2
  7ii7 s]vices1 includ+ s]vices relat$  
to digital te*nology2  7iii7 securities 
or o!r inve/m5ts2  7iv7 money2 or  7v7  
cr$it2 &  7,b7 ! sell] or provid] ( su* 
prop]ty1 s]vices1 securities or o!r     

inve/m5ts1 money1 or cr$it1 includ+ a   
?ird p>ty involv$ 9 ! sell+1 provid+ (1 
paym5t =1 receipt or use ( in=mation    
ab\t1 or o!r relation%ip to any su*     
prop]ty1 s]vices1 securities or o!r     
inve/m5ts1 money1 or cr$it4  7#c7       
,pr$ispute arbitration agreem5t ,! t]m  
pr$ispute arbitration agreem5t means an 
agreem5t to arbitrate a dispute t has n 
yet aris5 at ! "t ( ! mak+ ( ! agreem5t4
  7#d7 ,pre-dispute jo9t-action waiv] ,!
 t]m pre-dispute jo9t-action waiv] means
 an agreem5t1 :e!r or n "p ( a pr$ispute
 arbitration agreem5t1 t w\ld prohibit1 
or waive ! "r (1 "o ( ! p>ties to !     
agreem5t to p>ticipate 9 a jo9t1 class1 
or collective action 9 a judicial1      
arbitral1 adm9i/rative1 or o!r =um1     
conc]n+ a dispute t has n yet aris5 at !
 "t ( ! mak+ ( ! agreem5t4  7b7 ,no     
validity or en=ceability ( pr$ispute    
arbitration agreem5ts or jo9t-,action   
waiv]s  7#a7 ,9 g5]al ,not)/&+ any o!r  
provision ( law1 no pr$ispute           
arbitration agreem5t or pr$ispute       

jo9t-action waiv] %all be valid or      
en=ceable ) respect to a consum] dispute
 betwe5 a cov]$ p]son & a consum] t     
relates to a consum] f9ancial product or
 s]vice4  7#b7 ,applicability ,an issue 
z to :e!r ?is section applies ) respect 
to a dispute %all be det]m9$ "u ,f$]al  
law4 ,! applicability ( ?is *apt] to an 
agreem5t to arbitrate & ! validity &    
en=ceability ( an agreem5t to :i* ?is   
section applies %all be det]m9$ by a    
c\rt1 r ?an an arbitrator1 irrespective 
( :e!r ! p>ty resi/+ arbitration        
*all5ges ! arbitration agreem5t         
specifically or 9 conjunction ) o!r t]ms
 ( ! contract conta9+ ! agreem5t1 &     
irrespective ( :e!r ! agreem5t purports 
to delegate su* det]m9ations to an      
arbitrator4  4  7b7 ,te*nical & con=m+  
am5dm5ts ,! table ( cont5ts = !         
,dodd-,frank ,wall ,/reet ,re=m &       
,consum] ,protection ,act is am5d$ by   
ins]t+ aft] ! item relat+ to section    
#ajcf ! foll[+3  #ajcf;,a4 ,no validity 
or en=ceability ( pr$ispute arbitration 

agreem5ts or jo9t-action waiv]s4  4  #d4
 ,applicability ,?is ,act1 & ! am5dm5ts 
made by ?is ,act1 %all apply ) respect  
to any dispute or claim t arises or     
accrues on or aft] ! date ( enactm5t (  
?is ,act4