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AFR Letter Regarding the Restriction of Forced Arbitration

United States Senate Washington, DC 20510 April 23, 2010 Dear Senator: We write to express our support for the provisions in the Restoring American Financial Stability Act of 2010 that give the Bureau...

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STACKING THE DEBT: Consumer Rights in the Financial Marketplace

Mandatory arbitration and its impact on the world of consumer finance was the topic of a Capitol Hill briefing sponsored by AFR, Public Citizen & the National Association of Consumer Advocates.

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Capitol Hill Briefing: Restoring Investor Rights

The use of mandatory arbitration in disputes between investors, on the one hand, and brokers or other investment professionals, on the other. Hosted by Americans for Financial Reform, North American...

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CFPB Study Highlights Some of the Many Problems With Forced Arbitration

"In arbitration, there is no publicly accountable judge, jury, or right to an appeal. The arbitrators do not have to follow the facts or the law, and there is no public review of decisions to ensure...

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The House Financial Services Committee’s Latest Assault on the CFPB

Five-and-a-half years after the financial crisis, "the great majority of Americans still see a need for tougher regulation of Wall Street and the lending industry, and welcome the existence of a...

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Press Release: AFR joins 8 Allied Groups and More than 67,000 People in...

"These non-negotiable terms are one of the ways that companies rig the financial system against consumers and avoid accountability. These terms deny customers access to courts should they seek to...

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AFR in the News: Wells Fargo, PNC Draw Protest of Arbitration Clauses...

"The activists hand-delivered protest petitions Thursday that, they said, contained 67,000 signatures. Arbitration clauses put consumers at an unfair disadvantage in disputes with their banks, the...

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AFR Statement: CFPB Makes a Compelling Case for Banning Forced Arbitration

"In its latest study of forced arbitration, the Consumer Financial Protection Bureau (CFPB) confirms what consumers and consumer advocates have long said about this practice: it is a private dispute...

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Joint Letter: AFR and 105 State, Local and National Groups Call for an End to...

"Few practices are as abusive, unfair, and deceptive as the widespread use of forced arbitration clauses in most consumer contracts, including credit cards, student loans, debt settlement, credit...

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Joint Statement: 58 Lawmakers Call for a Strong CFPB Rule on Forced Arbitration

In a letter to Director Richard Cordray, 58 lawmakers urge the Consumer Financial Protection Bureau to use its Dodd-Frank authority to prohibit financial services companies from forcing consumers to...

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Joint Statement: 78,000 Consumers Urge CFPB to End Forced Arbitration

In petitions gathered by AFR and five allied organizations, more than 78,000 consumers urge the Consumer Financial Protection Bureau to take swift action against the use of forced arbitration clauses...

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AFR/CRL Poll: New Survey Finds Bipartisan Opposition to Forced Arbitration as...

With the Consumer Financial Protection Bureau now in a position to regulate the practice, a new poll shows strong public sentiment against the use of forced-arbitration clauses in consumer finance...

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AFR Statement: The CFPB Takes a Stand on Class-Action Bans

"Class actions, as Supreme Court Justice Ruth Bader Ginsberg explained in 1997, create room for “vindication of the rights of groups of people who individually would be without effective strength” to...

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Joint Statement: Consumer Advocates Applaud CFPB Arbitration Proposal

"Consumer advocates commend the CFPB for taking this crucial step to limit big banks’ and other financial companies’ efforts to escape accountability for breaking the law, and urge the agency to use...

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AFR Statement: A Major Step Toward Financial Industry Accountability

“'These clauses rob people not only of their constitutional right to go to court, but of the right to band together with others who have been damaged by the same corporate misconduct,' said Lisa...

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AFR Statement: Skewed House hearing on arbitration

"Under the terms of the CFPB’s proposal, consumers and companies would remain perfectly free to resolve disputes through arbitration, but it would be a voluntary act on both sides. What the CFPB is...

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Letter to Congress: Don’t interfere with proposal to restore consumers’...

"This rule is a crucial step to limit big banks’ and other financial companies’ efforts to escape liability if they break the law. Congressional or industry interference with the CFPB’s rulemaking...

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AFR Press Release: More than 100 Lawmakers Call for Swift CFPB Action on...

"More than 100 U.S. Senators and Representatives are asking the Consumer Financial Protection Bureau (CFPB) to move ahead with its efforts to restore the right of consumers to join together to hold...

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Letter to Regulators: Over 18,000 AFR Members call on the CFPB to Rein in...

Over 18,000 members of Americans for Financial Reform signed a petition calling on the Consumer Financial Protection Bureau to ensure that consumers aren't deprived of their day in court.

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AFR Statement: House Bill Would Let Banks and Lenders Keep Ill-Gotten Gains

"The House passed legislation to effectively kill class action lawsuits, which are often consumers' only chance to fight back against repeated corporate fraud and scams... 'If this bill becomes law,...

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