WASHINGTON, June 25 -- Sen. Jeff Merkley issued the following press release:
Today, Congressman Bill Foster (D-IL-11) and Senator Jeff Merkley (D-OR) introduced the Investor Choice Act, legislation to prohibit pre-dispute mandatory, or "forced," arbitration agreements and preserve customers' ability to bring or join class action lawsuits in certain financial sectors.
"Individuals shouldn't need to surrender their legal rights because they choose to work with a financial advisor or broker-dealer to plan for their retirement and invest their hard-earned money," said Congressman Foster. "This legislation levels the playing field for consumers and prevents them from being victims of a rigged system that denies them fair legal recourse if they...