58 Senators Urge CFPB To Create Rules Against Forced Arbitration Clauses In Financial Products

58 Senators Urge CFPB To Create Rules Against Forced Arbitration Clauses In Financial Products

A month after legislation was introduced to eliminate mandatory arbitration clauses in employment, consumer, civil rights and antitrust cases, a coalition of 58 lawmakers and several consumer advocate groups are urging the Consumer Financial Protection Bureau to take things a step further by protecting consumers from forced arbitration clauses in financial services contracts. [More]

(Brian Turner)

Arbitration Fairness Act Would Reinstate Consumers’ Right To Sue In Court

 

Companies have been taking away your right to sue them when they screw up for years, using small, hidden clauses to require mandatory binding arbitration instead. After years of consumer groups voicing their concern over this anti-consumer practice, there’s finally a new bill in congress that proposes to bring back your right to sue.

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The Arbitration Fairness Act Is In The House

The Arbitration Fairness Act Is In The House

The Arbitration Fairness Act, which will ban binding mandatory arbitration clauses from consumer, employment, and franchise contracts, was reintroduced in the House yesterday.