The Consumer Financial Protection Bureau (CFPB) is requesting public comment on how it should study mandatory arbitration clauses, according to a press release from the bureau. As part of the Dodd-Frank Act, the CFPB is required to study and regulate pre-dispute arbitration clauses in consumer financial markets, the release said. The bureau is requesting public comment regarding the following:

  • The prevalence of arbitration clauses in consumer financial products and services;
  • What claims consumers bring in arbitration against financial services companies;
  • If claims are brought by financial services companies against consumers in arbitration;
  • How consumers and companies are affected by actual arbitrations; and
  • How consumers and companies are affected by arbitration clauses outside of actual arbitrations