fbpx
News
March 10, 2015

U.S. Chamber Pushes Back on CFPB Anti-Arbitration Study

The U.S. Chamber is joining other business groups in pushing back on a new, anti-arbitration study released today by the Consumer Financial Protection Bureau (CFPB).

“The CFPB’s study makes one wonder if the Bureau is really trying to protect consumers or is instead trying to protect plaintiffs’ lawyers,” U.S. Chamber of Commerce officials David Hirschmann and Lisa Rickard said Tuesday.

“Arbitration is a simple, inexpensive, and modern system for enabling consumers to obtain fair and fast redress for the vast majority of their grievances,” Hirschmann and Rickard said in a formal statement. “Banning pre-dispute arbitration clauses will deprive consumers of the only realistic means of remedying most injuries, leaving them with lawyer-driven class actions lawsuits that provide millions in legal fees to lawyers, but little or no benefit to consumers.”

Read the full story here.

Letters, Comments, Petitions Coalition Letter on H.R. 963, the "FAIR Act" Arbitration Press Releases New Study: Consumers and Employees Win More Money, More Often, and More Quickly in Arbitration Than in Court Arbitration Arbitration Blog What is Arbitration? Arbitration Podcasts EPISODE 22: Summit XXI: New Day, New Tactics: The Plaintiffs’ Bar at Work Arbitration, Class Action Litigation, COVID-19 Liability, Third Party Litigation Funding (TPLF) Blog Claimant Win Rates in Consumer and Employment Arbitration: November 2021 Update Arbitration

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Cookie Notice

By clicking “I Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Review Settings