The federal Consumer Financial Protection Bureau is meeting in Dallas this week for a field hearing on a proposal to ban forced arbitration in consumer financial contracts like credit cards and car loans.
Forced arbitration clauses are everywhere. If you have a dispute with a bank, you are forced into a closed, costly and tilted process without any appeal or public record. Not only is forced arbitration biased against consumers, but it also costs consumers more and it is conducted in secret.
We’ll be there to speak on behalf of Texans who have been subjected to this unfair process. And, we encourage you to be there too. If you have an experience with forced arbitration you’d like to share, here are the details for the hearing. It is important to RSVP.
Also, take action now to let the agency know you support a ban on forced arbitration.