The Consumer Financial Protection Bureau, or CFPB, has launched a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration clauses.
For purposes of conducting the study, the Bureau is asking the public about:
- The prevalence of arbitration clauses in consumer financial products and services;
- What claims consumers bring in arbitration against financial services companies;
- If claims are brought by financial services companies against consumers in arbitration;
- How consumers and companies are affected by actual arbitrations; and
- How consumers and companies are affected by arbitration clauses outside of actual arbitrations.
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