HR 4413 · 113th Congress · Finance and Financial Sector

Customer Protection and End User Relief Act

Introduced 2014-04-07· Sponsored by Rep. Lucas, Frank D. [R-OK-3]· House

Bill Progress

1
Introduced
Committee
House Vote
4
Senate
5
Enacted
Latest: Received in the Senate and Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.(2014-06-25)

Recorded Votes

PassedHouse · 2014-06-24
Roll #349
Yea 265Nay 144
Democrats
46 Yea·143 Nay
Republicans
219 Yea·1 Nay
PassedHouse · 2014-06-24
Roll #349
Yea 265Nay 144
Democrats
46 Yea·143 Nay
Republicans
219 Yea·1 Nay
FailedHouse · 2014-06-24
Roll #348
Yea 191Nay 220
Democrats
190 Yea·1 Nay
Republicans
1 Yea·219 Nay

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Plain Language Summary

[AI summary unavailable — showing source text] Customer Protection and End User Relief Act - Futures Customer Protection Act - Amends the Commodity Exchange Act (CEA) to direct registered futures associations to require their futures commission merchant members to: (1) maintain written policies and procedures governing maintenance of members’ specified residual interests in customer segregated funds accounts, including cleared swaps customer collateral accounts; and (2) establish rules governing the withdrawal, transfer, or disbursement of a member's residual interest in customer segregated funds, in foreign futures and foreign options customer secured amount funds, and from a cleared swaps customer collateral. Authorizes the Commodity Futures Trading Commission (CFTC) to require that property of the bankruptcy estate, including trading or operating accounts and commodities held in inventory, of a commodity broker who is a Chapter 7 debtor in bankruptcy be included in customer property to the extent that such property is insufficient to satisfy the net equity claims of the broker's public customers. Directs the CFTC to examine the effect of high-frequency trading upon markets under its jurisdiction. Commodity Futures Trad…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 4413, Customer Protection and End User Relief Act

May 20, 2014

As ordered reported by the House Committee on Agriculture on April 9, 2014

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (3)

2 Democrats1 Republican