The legal rights of American consumers are increasingly under attack through
the practice of forced arbitration. Forced arbitration clauses, found
in contracts for many financial services and financial products, eliminate
the consumer's ability to file a class action lawsuit if they have
been cheated. Individuals rarely have the resources to fight back against
large banks and financial institutions.
The Consumer Financial Protection Bureau is attempting to right this wrong
through proposed legislation which would curtail the use of forced arbitration.
In a letter to Senators Lindsey Graham, Tim Scott, and Congressman Trey
Gowdy, our own Ric Davis urges these lawmakers to take a stand for consumer's
rights by supporting this legislation.