Thursday, July 22, 2010

Forced arbitration to be addressed in Consumer Protection Act

Public Citizen: The Bureau then has the authority, by rulemaking, to "prohibit or impose conditions or limitations on the use of" mandatory arbitration clauses, consistent with the study. This provision had its origins in the Obama Administration's initial white paper on financial reform and, amazingly, it stayed in the legislation all the way. Read more here.


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