Commenting on a field hearing October 7, 2015, in Denver regarding a proposal by the Consumer Financial Protection Bureau that would restrict mandatory arbitration clauses, Alan S. Kaplinsky, partner at Ballard Spahr, indicated that the overwhelming majority of consumer disputes are resolved informally, avoiding arbitration or class-action lawsuits.

The new rules proposed by the CFPB were developed after its required study—as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act—of the clauses to determine if they are harming consumers.

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Consumer Financial Services
Consumer Financial Protection Bureau
Bank Regulation and Supervision