CFPB Eyeing Arbitration Clauses

December 2013
Pratt's Letter;12/16/2013, p2
The article discusses the Consumer Financial Protection Bureau's (CFPB) focus on clauses of arbitration in consumer financial products and services in the U.S. It mentions its report referenced by its Director Richard Cordray highlighting the inclusion of the clauses in contracts, their involvement in credit card agreements and prevention of customers from engaging in class arbitrations. It also notes that they are considered by consumer groups to deprive proper compensate grievances.


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