Building the CFPB's Arbitration Archive: A Commentary on Design, Implementation, and Privacy

17 Pages Posted: 26 Apr 2016

See all articles by Xiaoling Ang

Xiaoling Ang

Independent; Marsh & McLennan Companies - New York Office

Thomas Kearney

Akerman, LLP

Date Written: April 25, 2016

Abstract

The Consumer Financial Protection Bureau’s (CFPB) is considering a proposal to require the submission of arbitral claims and awards, which could be published online by the CFPB. The proposal’s justifications include analyses of trends, diagnostics of arbitrator bias, and confidence in the arbitral system through transparency. This article considers the potential role of archive design and collection in the effectiveness of the arbitration archive. We focus on how submission requirements and data structure may affect the usefulness of the archive, especially for empirical analyses. We also discuss the unique privacy issues at stake. The analysis draws on legal considerations applicable to the financial services sector and potentially covered persons, the design of existing government managed data archives of industry data, and previous studies of arbitral claims and awards.

Keywords: arbitration, data collection, consumer financial services

JEL Classification: C8, K2

Suggested Citation

Ang, Xiaoling and Kearney, Thomas, Building the CFPB's Arbitration Archive: A Commentary on Design, Implementation, and Privacy (April 25, 2016). Available at SSRN: https://ssrn.com/abstract=2770002 or http://dx.doi.org/10.2139/ssrn.2770002

Xiaoling Ang (Contact Author)

Independent

No Address Available
United States

Marsh & McLennan Companies - New York Office ( email )

1166 Avenue of the Americas, 34th Floor
New York, NY 10036
United States

Thomas Kearney

Akerman, LLP ( email )

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