We took a look at arbitration agreements and here’s what we found

Tens of millions of consumers use financial products or services like credit cards and student loans that include pre-dispute arbitration clauses in their agreements. This means that either party to these contracts can require disputes be resolved through arbitration, rather than through the court system.

These clauses are controversial. Critics of these clauses argue that they limit consumers’ ability to take their dispute to court – particularly class actions, which allow large numbers of people to seek relief together. Advocates of these clauses, on the other hand, say arbitration is quicker and more cost-effective than court proceedings.

What we covered

Consumer Financial Protection BureauBlog > – Newsroom Feed

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