Center for American Progress

CFPB Arbitration Rule Gives Senate a Choice: Companies or Consumers?
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CFPB Arbitration Rule Gives Senate a Choice: Companies or Consumers?

Author Joe Valenti urges congressional Republicans to uphold the CFPB's rule restricting the use of arbitration instead of defending companies' right to defraud consumers without being punished.

Authors

  • Joe Valenti

Equifax recently announced that it would not strip data breach victims of their legal rights when they signed up for its free credit monitoring offer, reversing its earlier stance.

In response to significant public pressure, Equifax’s decision is a small step toward rebuilding trust for the 143 million Americans whose personal data were exposed in the breach. But behind the public outcry, congressional Republicans and the White House are still quietly seeking to protect businesses that use these fine-print forced arbitration clauses to deny consumers their day in court.

The above excerpt was originally published in Morning Consult. Click here to view the full article.

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Authors

Joe Valenti

Director, Consumer Finance