CFPB To Study Mandatory Arbitration Clauses

Law360, New York (April 24, 2012, 6:55 PM EDT) -- The Consumer Financial Protection Bureau on Tuesday announced a study into arbitration clauses that block customers from taking complaints into court, the first step in what many observers say is a new set of rules for those clauses.

The bureau is required under the Dodd-Frank Wall Street Reform and Consumer Protection Act to submit a study to Congress regarding the use of so-called predispute arbitration clauses that are embedded in contracts for most credit and debit cards, bank accounts and other consumer financial products.

The study...
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