New proposal to ban companies from using arbitration clauses as a free pass to avoid accountability

Remember the last time you signed up for a credit card or student loan? You could be one of the millions of consumers who have signed away the right to join together with other consumers in a group lawsuit to get compensation from a company when it breaks the law and harms you. Buried in many contracts for consumer financial products are arbitration clauses that block consumers from seeking relief through class action lawsuits.

INFOGRAPHIC: Consumers are signing away their legal rights

Today, we’re releasing proposals under consideration that would stop companies from using these clauses to avoid accountability to their customers .

How do group lawsuits help c…
Consumer Financial Protection BureauBlog > – Newsroom Feed

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