Proposal:Consumer Financial Choice and Capital Markets Protection Act of 2021

This proposal is archived and closed to further debate. It was introduced in the 117th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 2684
Type of Legislation	Senate Bill
Congress	117
Status	Archived — 117th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

Consumer Financial Choice and Capital Markets Protection Act of 2021

This bill allows a money market fund, under specified conditions, to elect to operate using a different method of valuation than is otherwise required. A money market fund that elects to do so shall not be subject to specified requirements related to the imposition of liquidity fees. (A money market fund is a type of mutual fund that invests in liquid, short-term assets.)

Current law limits the provision of certain federal assistance directly to any money market fund. The bill requires disclosure of this limitation on federal assistance in a money market's advertising and sales literature.

Bill Title

Consumer Financial Choice and Capital Markets Protection Act of 2021

Linked Goals

• Goal:Promote General Welfare

Steps

• 2021-08-09: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
• 2021-08-09: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.