Customer Property Protection Act
Sponsored By: Representative Thanedar, Shri [D-MI-13]
Introduced
Summary
Expands what counts as customer property in commodity broker bankruptcies. This bill would let certain estate assets like cash, securities, trading and operating accounts, and inventory be treated as customer property to satisfy public customers' net equity claims when ordinary customer property is insufficient.
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- Public customers: They could claim against more estate assets to cover net equity shortfalls, increasing chances they get paid when customer property falls short.
- Creditors and clearing organizations: Unavoidable security interests, contractual offsets, and netting rights, including rights under a derivatives clearing organization or a clearing agency, remain preserved.
- Commodity brokers and estates: The bill would add specific estate assets to the customer property definition and directs the Commission to define "net equity claims" by rule.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More protection for commodity customers
If enacted, cash, securities, trading and operating accounts, and commodities a commodity broker holds would be treated as customer property in a broker bankruptcy. That extra property would be available only to the extent ordinary customer property is not enough to cover public customers' net equity claims. The change would be subject to any unavoidable security interests and to unavoidable contractual offsets or netting rights, including rules or bylaws of derivatives clearing organizations and clearing agencies. The Commodity Futures Trading Commission would define "net equity claims of public customers" by rule.
Sponsors & CoSponsors
Sponsor
Thanedar, Shri [D-MI-13]
MI • D
Cosponsors
Rep. Cammack, Kat [R-FL-3]
FL • R
Sponsored 7/15/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov