HR9717Referred to Committee

Customer Property Protection Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-07-15
Introduced
1
Cosponsors
HR
ⓘ
Type

Sponsor

Shri Thanedar
Shri Thanedar
Democrat · MI · Representative
Votes with party: 96.8% (597 recorded votes)

Full profile: /officials/T000488

Source: Congress.gov · FEC

Cosponsors (1)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Agriculture.

2026-07-15

Source: Congress.gov

Committee Activity

Currently in

Plain-English Summary

When a commodity broker goes bankrupt, this proposal would clarify how customer money and investments held by that broker should be handled and protected. The change aims to ensure that customers' funds are treated fairly and recovered as quickly as possible during the bankruptcy process, rather than being tied up in lengthy legal disputes. This affects people and businesses who trade commodities like oil, grain, and metals through brokers.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9717 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9717 To amend the Commodity Exchange Act to authorize certain treatment of customer property during commodity broker bankruptcy. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 15, 2026 Mr. Thanedar (for himself and Mrs. Cammack) introduced the following bill; which was referred to the Committee on Agriculture _______________________________________________________________________ A BILL To amend the Commodity Exchange Act to authorize certain treatment of customer property during commodity broker bankruptcy. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Customer Property Protection Act''. SEC. 2. PROTECTING CUSTOMER PROPERTY DURING COMMODITY BROKER BANKRUPTCY. Section 20(a) of the Commodity Exchange Act (7 U.S.C. 24(a)) is amended-- (1) by striking ``and'' at the end of paragraph (4); (2) by striking the period at the end of paragraph (5) and inserting ``; and''; and (3) by adding at the end the following: ``(6) that cash, securities, or other property of the estate of a commodity broker, including the trading or operating accounts of the commodity broker and commodities held in inventory by the commodity broker, shall, subject to any otherwise unavoidable security interest, or otherwise unavoidable contractual offset or netting rights of creditors (including rights set forth in a rule or bylaw of a derivatives clearing organization or a clearing agency) in respect of such property, be included in customer property, but only to the extent that the property that is otherwise customer property is insufficient to satisfy the net equity claims of public customers (as such term may be defined by the Commission by rule or regulation) of the commodity broker.''. <all>
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