S. 2684 · 117th Congress
Consumer Financial Choice and Capital Markets Protection Act of 2021
- Stage
- In committee
- Sponsor
- Pat Toomey
- Introduced
- 2021-08-09
- Latest action
- 2021-08-09 · Introduced in Senate
Summary
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.