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CFPB should tackle forced arbitration, argues Public Citizen’s Lisa Gilbert in The Hill oped:
CFPB should tackle forced arbitration, argues Public Citizen’s Lisa Gilbert in The Hill oped:
“…the Consumer Financial Protection Bureau (CFPB) issued its final study on forced arbitration, and the results are straightforward: … lenders use arbitration clauses to make it significantly more difficult for consumers who have been cheated or the victims of illegal conduct to get any relief … only 7 percent understand that they can’t go to court … These take-it-or-leave it contracts that we all must sign often include dangerous clauses buried in the fine print that take away our rights … [CFPB is] now armed with the necessary data to act quickly to ban forced arbitration clauses…”
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http://thehill.com/blogs/pundits-blog/finance/235297-its-time-for-the-cfpb-to-restore-consumers-rights