Consumer Financial Protection Bureau Surveying Consumers About Arbitration

“Just a few years ago, it was possible for consumers who’d been cheated by payday lenders to successfully pursue claims under consumer protection laws and recover substantial amounts of money wrongfully taken from them. But in the wake of recent U.S. Supreme Court decisions, courts are throwing out these cases and enforcing arbitration clauses even in cases where it’s been proven that the arbitration clauses guarantee that the consumers will not be able recover anything even if all of their legal claims are correct.” A few weeks ago, the Bureau took a new step in its study, announcing that it intends to conduct a survey of consumers. More at: