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    This page contains excerpts from government reports, signed by elected officials.

17LTR-CFPB on Aug 4, 2016

Report: restricting corporate use of consumer mandatory arbitration
Source: Letter to CFPB Director
Excerpts from Letter from 35 Senators to the CFPB: We write to commend the Consumer Financial Protection Bureau (CFPB) for its proposed rule to limit the use of mandatory, pre-dispute ("forced") arbitration clauses in consumer financial product and service contracts. Every day, Americans across the country are forced to sign away their constitutional right to access the courts as a condition of purchasing common products and services like credit cards, checking accounts, and private student loans. Binding arbitration is a privatized justice system that studies show consistently produces results that favor large corporations and offers no meaningful appeals process. As a result, consumers are left without redress, and companies are unaccountable for their unscrupulous behavior.

Opposing freedom argument: (Cato Institute, "ATLA monopoly," May 2002): The trial lawyers new goal is to tighten their monopoly grip on the court system, and prevent the rest of us from choosing a more efficient means of resolving our disputes. Arbitration is simply private court. Lawyers with a vested interest in a monopoly court system are trying to stop the arbitration business from developing. But there's nothing forced or mandatory about it. Contracts are the result of choice. People should be free to choose for themselves what contracts to make and what rights to give up.

Opposing economic argument: (Heritage Foundation, "The Unfair Attack on Arbitration," July 17, 2013): Any study by the Consumer Financial Protection Bureau should examine whether a limit on arbitration would:

  • Drive up the costs of consumer products;
  • Decrease the ability of consumers or businesses to pursue claims, particularly low-value claims;
  • Increase the volume of frivolous litigation filed just to obtain settlements; and
  • Decrease the availability of consumer products.
Also see related legislation H.R. 100


    Participating counts on VoteMatch question 25. Scores: -2=Strongly oppose; -1=Oppose; 0=neutral; 1=Support; 2=Strongly support.
  • Topic: Corporations
  • Headline: Restrict corporate use of consumer mandatory arbitration (Score: 1)

  • Key for participation codes:
  • Sponsorships: p=sponsored; o=co-sponsored; s=signed
  • Memberships: c=chair; m=member; e=endorsed; f=profiled; s=scored
  • Resolutions: i=introduced; w=wrote; a=adopted
  • Cases: w=wrote; j=joined; d=dissented; c=concurred
  • Surveys: '+' supports; '-' opposes.



Democrats participating in 17LTR-CFPB

Tammy Baldwin s1sWI Democratic Challenger 
Michael Bennet s1sCO Democratic Jr Senator 
Richard Blumenthal s1sCT Democratic Sr Senator 
Cory Booker s1sNJ Democratic Challenger 
Barbara Boxer s1sCA Democratic Jr Senator (retiring 2016) 
Maria Cantwell s1sWA Democratic Jr Senator 
Bob Casey s1sPA Democratic Sr Senator; previously state treasurer 
Chris Coons s1sDE Democratic Jr Senator 
Dianne Feinstein s1sCA Democratic Sr Senator 
Kirsten Gillibrand s1sNew York Democrat 
Martin Heinrich s1sNew Mexico Democrat (Senate run 2012) 
Heidi Heitkamp s1sND Democratic Challenger 
Mazie Hirono s1sHawaii Democrat (Senate run 2012) 
Tim Kaine s1sVA Democratic Challenger 
Amy Klobuchar s1sMN Democrat/DFL Sr Senator 
Patrick Leahy s1sVT Democratic Sr Senator 
Ed Markey s1sMA Democratic Challenger 
Claire McCaskill s1sMO Democratic Sr Senator; previously state Auditor 
Jeff Merkley s1sOR Democratic Jr Senator 
Barbara Mikulski s1sMD Democratic Sr Senator (Retiring 2016) 
Patty Murray s1sWA Democratic Sr Senator 
Jack Reed s1sRI Democratic Sr Senator 
Bernie Sanders s1sPOTUS Democratic Presidential candidate 
Brian Schatz s1sHI Democratic Jr Senator Appointee 
Jeanne Shaheen s1sNH Democratic Sr Senator 
Debbie Stabenow s1sMI Democratic Jr Senator 
Tom Udall s1sNew Mexico Democrat (Senate 2008) 
Mark Warner s1sVA Democratic Sr Senator; previously Governor 
Elizabeth Warren s1sMA Democratic Challenger 
Sheldon Whitehouse s1sRI Democratic Jr Senator, previously attorney general 
Ron Wyden s1sOR Democratic Sr Senator 



Republicans participating in 17LTR-CFPB



Independents participating in 17LTR-CFPB



Total recorded by OnTheIssues:

Democrats: 31
Republicans: 0
Independents: 0


















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