Poll finds majority of consumer financial services lawyers rarely or never read consumer contracts before agreeing to them

From time to time at a gathering of consumer law folks, I poll participants about whether they read consumer law contracts and disclosures. Here, for example, are the results of a survey of consumer law professors asked those questions. Earlier this year, I surveyed the audience at a consumer financial services lawyers, some of whose job responsibilities presumably include writing consumer contracts. The results for the consumer financial services lawyers appear below. Interestingly, the lawyers claim they do more reading of these documents than the professors do. I wonder what that says about us.

How often do you read contracts before agreeing to them (e.g., before clicking “I agree” on a web site or to obtain wifi access, a rental car contract, a credit card contract)? (n=42)

Always 2%

Usually: 14%

Sometimes: 31%

Rarely: 40%

Never: 12%

Do you read required disclosures before entering into consumer transactions? (n=41)

Always: 10%

Usually: 27%

Sometimes: 41%

Rarely: 12%

Never: 10%

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