Here (behind a paywall, unfortunately).
Category Archives: Arbitration
by Jeff Sovern The House Committee on Appropriations Subcommittee on Financial Services has released the draft of a bill it is considering that would hamstring the CFPB and at least temporarily preserve pre-dispute arbitration clauses, among other things. Here is how the Subcommittee describes the CFPB portion of the bill: The bill includes a provision […]
Here. Excerpt: The campaign is being run by Lincoln Strategy Group, a political consulting firm Tempe, Ariz. Its founder, Nathan Sproul, has been linked to several instances of suspected voter fraud and barred from Republican Party contracts. The company also worked with Steve Gates, the only person previously identified with Protect America's Consumers, on the […]
The added witnesses are Jason S. Johnston of Virginia School of Law and Dong Hong, VP and Regulatory Counsel, Consumer Bankers Association. A link to Johnston's article on class actions is included in the post just below this one. Johnston has previously criticized the Bureau's arbitration report and the Dodd-Frank mortgage restrictions. Neither witness seems likely to […]
Sarah Rudolph Cole has written The Federalization of Consumer Arbitration: Possible Solutions, University of Chicago Legal Forum No. 271. Here's the abstract: Over the past fifteen to twenty years, businesses dramatically increased the use of arbitration clauses in contracts with consumers. Although commentators criticize the use of arbitration to resolve consumer disputes because arbitration lacks the […]
The title of the hearing is "Examining the CFPB’s Proposed Rulemaking on Arbitration: Is it in the Public Interest and for the Protection of Consumers?" It will take place Wednesday, May 18. The witnesses seem not to have been announced, but given the composition of the Committee, I think we can anticipate the majority answering […]
by Jeff Sovern Jean Sternlight of UNLV is circulating an impressive and well-argued letter for law professors to sign supporting the CFPB's proposed arbitration regulation. According to my count, 139 have already signed it. If you would like to add your name to the list, please email Jean at jean.sternlight@unlv.edu no later than May 20.
Here's a post that I wrote for the American Constitution Society's blog last Friday — the day after the CFPB released its proposed arbitration rule.