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Customer Property Protection Act
To amend the Commodity Exchange Act to authorize certain treatment of customer property during commodity broker bankruptcy.
Summary
- Amends the Commodity Exchange Act to expand the definition of "customer property" during commodity broker bankruptcy.
- Includes the commodity broker's own cash, securities, trading accounts, and commodities held in inventory as potential customer property for satisfying customer claims.
- Limits use of the broker's property to situations where the otherwise-designated customer property is insufficient to satisfy public customer claims.
- Preserves creditors' security interests, contractual offsets, and netting rights in the broker's property during bankruptcy proceedings.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Cammack, Kat [R-FL-3] (R-FL)
Actions (2)
- Jul 15, 2026 Introduced in House
- Jul 15, 2026 Referred to the House Committee on Agriculture. · house
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
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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