Forced Arbitration Archives - Page 5 of 5 - Americans for Financial Reform

The House Financial Services Committee’s Latest Assault on the CFPB

Five-and-a-half years after the financial crisis, “the great majority of Americans still see a need for tougher regulation of Wall Street and the lending industry, and welcome the existence of a federal agency with a mandate to police rules of fair play in the consumer finance markets.

“At the House Financial Services Committee, however, a different view has taken hold. The big threat, many on that committee seem to believe, comes not from abusive practices in the financial industry, but from the agency that is beginning to do something about them.”

CFPB Study Highlights Some of the Many Problems With Forced Arbitration

“In arbitration, there is no publicly accountable judge, jury, or right to an appeal. The arbitrators do not have to follow the facts or the law, and there is no public review of decisions to ensure the arbitrator got it right. Moreover, contracts typically name the arbitration firm that must be used—the one preferred by the company.”

Capitol Hill Briefing: Restoring Investor Rights

The use of mandatory arbitration in disputes between investors, on the one hand, and brokers or other investment professionals, on the other. Hosted by Americans for Financial Reform, North American Securities Administrators Association and Public Citizen

STACKING THE DEBT: Consumer Rights in the Financial Marketplace

Mandatory arbitration and its impact on the world of consumer finance was the topic of a Capitol Hill briefing sponsored by AFR, Public Citizen & the National Association of Consumer Advocates.

AFR Letter Regarding the Restriction of Forced Arbitration

United States Senate Washington, DC 20510 April 23, 2010 Dear Senator: We write to express our support for the provisions in the Restoring American Financial Stability Act of 2010 that give the Bureau of Consumer Financial Protection (CFPB) and the Securities and Exchange Commission (SEC)