Wednesday, September 30, 2015
1:00 p.m. – 2:00 p.m. EDT
Over the summer, the CFPB released its long awaited Report to Congress on arbitration agreements in consumer financial contracts. The Report’s conclusion, and Director Richard Cordray’s remarks, were as expected: consumers are better served by litigation—and particularly, class action litigation—than by agreements to arbitrate disputes. But after spending almost three years analyzing the issue, the 700-page Report does not appear to back up that conclusion. Rather, the evaluation of arbitration agreements, including class action waivers, requires complex value judgments that are not suited to the Bureau’s data-driven approach.
• Discuss the Consumer Financial Protection Bureau’s findings on arbitration agreements in consumer financial contracts
• Explore the prevalence of arbitration agreements
• Compare arbitration agreement features and procedures
• Address consumer understanding of dispute resolution systems
• Review the types of claims brought forward in arbitration and court
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