The Consumer Financial Protection Bureau (CFPB), is required under the Dodd Frank legislation to study arbitration and make recomendations for rulemaking. The CFPB has begun work on this study. The National Association of Consumers Advocates(NACA) needs yourhelp to collect information that might be helpful in demonstrating the widespread practice of binding mandatory arbitration in consumer transactions and how arbitration prevents people from pursuing a legal remedy to their problem.
Here's how you can help:
1. Send NACA arbitration clauses. It is helpful to collect and examine arbitration clauses where a dispute is involved and the cause is actually at issue.
2. Send them your stories and concrete experiences of how arbitration has prevented you from pursuing your rights. These can included:
a. Cases that can no longer be pursued because of the arbitration clause.
b. Good cases you or your lawyer did not pursue because of an arbitration clause.
c. Cases either dismissed or sent to arbitration.
3. Please send NACA the names of cases.
Send this to:
Delicia Reynolds Hand
National Association of Consumer Advocates (NACA)
1730 Rhode Island Avenue, NW, Suite 710
Washington, DC 20036
(202) 452-1989 ext. 103