Alert December 10, 2013

CFPB to Hold Field Hearing on Arbitration

The CFPB will hold a field hearing on arbitration in Dallas, Texas on December 12, 2013. Section 1028(a) of the Dodd-Frank Act required the CFPB to conduct a study of arbitration agreements and clauses and provide a report to Congress. In April 2012, the CFPB launched an inquiry into how it should study arbitration clauses and agreements between financial service companies and consumers (see May 1, 2012 Alert).