American Broadband Competition Act of 2001

American Broadband Competition Act of 2001 - Amends the Clayton Act to provide for the application of that Act to specified violations in the telecommunications industry, including violations by an incumbent local exchange carrier in a State. Prohibits such carrier and all affiliates from jointly marketing in a State any advanced telecommunications service with any other telecommunications or information services offered by such carrier or affiliates. Directs the Attorney General to report on suits brought herein, describing the effect that enforcement has had on competitiveness in the telecommunication marketplace.

Treats certain interconnection agreements as contracts containing a written provision to settle by arbitration a controversy thereafter arising out of such contract. Subjects any such controversy to arbitration in accordance with the alternative dispute resolution (ADR) process established under this Act.

Requires the Attorney General to prescribe a multi-state ADR process for disputes related to an interconnection agreement.