Its analysis found that forced arbitration clauses
that prohibit consumers from entering class action lawsuits against companies are commonplace in financial product contracts, and make it more difficult for consumers to hold banks accountable for misconduct.
The Supreme Court has undermined the ability to challenge the arbitration clauses
themselves as unconscionable in its AT&T Mobile, LLP v.
Wilko, arbitration clauses
had even become common in employment
However, it said there were instances when non-signatories to the agreement containing the arbitration clause
were bound by such clause and may be compelled to submit to arbitration.
She said that she would push Congress to give agencies, such as the Federal Trade Commission and the FCC, the power to restrict the use of arbitration clauses
in consumer, employment and antitrust contexts.
contracts also impact the content and nature of arbitration clauses
By narrowing the effective vindication doctrine, the Court has potentially undermined all challenges to class-action waivers in arbitration clauses
The Barrow family was precluded from bringing the case to court due to an arbitration clause
Part II of this Note addresses Congress' mandate to the CFPB to conduct a study of pre-dispute arbitration clauses
and the CFPB's process in conducting the Arbitration Study.
The legislative history of the law indicates that, in addition to ensuring judicial enforcement of privately made agreements to arbitrate, Congress recognized that arbitration clauses
may assist in cleaning up judicial dockets and avoiding the "costliness and delays of litigation.
and use by minors.
Contractual arbitration clauses
are highly favored by most courts in the United States.