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78,000+ Consumers to CFPB: End Forced Arbitration

June 18th, 2015

By: Christine Hines

RELEASE: Consumers to CFPB: End Forced Arbitration  Consumer Financial Protection Bureau Can End Wall Street’s Practice of Stripping Customers’ Right to Go to Court Washington DC – More than 78,000 consumers are calling on the Consumer Financial Protection Bureau (CFPB) to take swift action to ban forced arbitration clauses in terms attached to financial services and

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FAN Opposes Anti-Consumer Amendment in Funding Bill

June 17th, 2015

By: Christine Hines

Fair Arbitration Now, a network of more than 70 consumer, labor, legal and community organizations sent a letter to the House Appropriations Committee strongly opposing an amendment offered by U.S. Representatives Steve Womack (R-Ark.) and Tom Graves (R-Ga.) to the Financial Services and General Government appropriations bill. The amendment proposes a tragic waste of taxpayer

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Calls for a CFPB Arbitration Rule Grow

May 21st, 2015

By: Christine Hines

The Consumer Financial Protection Bureau continues to hear from public officials, public interest organizations and individual consumers on how important it is that it exercise its authority to write a rule to eliminate forced arbitration and restore consumers’ legal rights in the financial marketplace. * As reported here, U.S. senators and representatives sent a letter

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Congress: Forced Arbitration is Bad for Consumers

May 21st, 2015

By: Christine Hines

Today, more than 50 U.S. senators and representatives sent a letter to the Consumer Financial Protection Bureau (CFPB), urging the agency to write a rule to protect consumers from the horrors of the fine print that takes away consumers’ right to seek remedies against big banks and other financial services companies in court. The letter led by

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Recent Pew Report Examines Forced Arbitration in Checking Accounts

May 21st, 2015

By: Christine Hines

Pew Charitable Trusts recently released its  fifth in a series of reports reviewing checking account terms and conditions. It criticized overdraft practices that result in excessive fees and the use of forced arbitration in the fine print of customer agreements. Pew defined three best practices for financial institutions that provide checking accounts:   • Provide checking

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