Last May, the Consumer Financial Protection Bureau released its proposed rules regulating arbitration. Although arbitration has been shown to be just as fair as litigation, with the added bonus of being quicker and more cost-effective, the proposed rules seek to limit the availability and use of non-judicial methods of dispute resolution.
We urge all of our members and supporters to file public comments opposing the CFPB’s anti-arbitration rules. The deadline for comments is August 22, and they should be submitted online.
If you have questions this proposed rule, or the commenting process, please contact Alida Kass, NJCJI’s chief counsel.