In March 2015 the CFPB released its final report to Congress on the use of arbitration agreements in disputes between consumers and providers of consumer financial products. The tone and conclusions of the report suggest that the CFPB intends to aggressively regulate arbitration agreements in consumer credit contracts. The CFPB could also implement an outright ban on mandatory arbitration clauses.
Has the CFPB gone too far in targeting consumer arbitration clauses? Or does the evidence support arbitration as relatively fair and successful at resolving various disputes between consumers and providers of consumer financial products? Some question whether increased enforcement and regulatory measures help or hinder consumers. Please join us for an informative discussion on the future of arbitration in consumer credit contracts in light of the CFPB report and the anticipated government activity featuring:
Henry L. and Grace Doherty Charitable Foundation Professor of Law, University of Virginia School of Law
Executive Director, National Association of Consumer Advocates