National Consumer Law Center Issues Online Petitition Regarding Forced Arbitration
The National Consumer Law Center and the National Association of Consumer Attorneys have issued an online petition in advance of the Consumer Financial Protection Bureau’s final arbitration study. The petition urges the nation’s largest financial institutions to discontinue including mandatory arbitration agreements in consumer contracts. The online petition comes as the Consumer Financial Protection Bureau (“CFPB”) completes its final arbitration study.
The CFPB has the authority to prohibit or severely limit the situations in which it is appropriate for lenders and other large commercial actors to require ordinary consumers to sign mandatory arbitration clauses. Opponents of mandatory forced arbitration contend that arbitration often prevents consumers from having any opportunity to seek redress of grievances against large commercial actors, such as lenders, financial services providers, mortgage servicers, and telecommunications providers. Interested consumers can learn more about the petition and the CFPB’s arbitration study via these links:
The law firm you choose makes a difference. If you are the victim of an accident or an illness that someone else caused, the North Carolina personal injury law firm of Martin & Jones has the depth of experience, skills and sensitivity to make your road to recovery as smooth as possible. Whether you have experience with the legal system or have never hired a medical malpractice or personal injury lawyer before, our attorneys and staff will do our best to answer your questions, provide clear advice and prepare you and your family for what to expect. If you would like more information or to meet with one of our attorneys, please fill out the form below or call us at 800.662.1234.