Sixteen State Attorneys General Urge CFPB to Limit Pre-dispute Arbitration

By | Payment Law Advisor | November 25, 2014
Sixteen State Attorneys General Urge CFPB to Limit Pre-dispute Arbitration

State attorneys general from California, Connecticut, Delaware, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, New Mexico, New York, Oregon, Rhode Island, Vermont, and Washington sent a letter to Consumer Financial Protection Bureau Director Richard Cordray urging the agency to issue rules imposing “prohibitions, conditions, or limitations on the use of pre-dispute arbitration clauses” in consumer agreements for financial products or services.