CFPB Arbitration Study Preliminary Results

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) requires the Consumer Financial Protection Bureau (CFPB) to study the effects of consumer finance arbitration clauses. These are contract clauses that require any future disputes between consumers and companies to be resolved through private arbitration, rather than in court. Consumers are required to accept these clauses in “take-it-or-leave-it” …