Hurrah for the Consumer Financial Protection Bureau: Consumer Arbitration As a Poster Child for Regulation

34 Pages Posted: 21 Jul 2017  

Jean R. Sternlight

University of Nevada, Las Vegas, William S. Boyd School of Law

Date Written: 2016

Abstract

Drawing on economic, psychological and philosophical considerations, this Essay considers whether consumers should be "free" to "agree" to contractually trade their opportunity to litigate in a class action for the opportunity to bring an arbitration claim against a company. The Essay suggests that by looking at the CFPB's regulation through these three lenses, one sees that the regulation is desirable—even a poster child—for the potential value of regulation when market forces are not sufficient to protect individual or public interests.

Keywords: Consumer Financial Protection Bureau, Consumer Arbitration, class action, Dodd-Frank, CFPB

Suggested Citation

Sternlight, Jean R., Hurrah for the Consumer Financial Protection Bureau: Consumer Arbitration As a Poster Child for Regulation (2016). 48 St. Mary's Law Journal 343 (2016); UNLV William S. Boyd School of Law Legal Studies Research Paper . Available at SSRN: https://ssrn.com/abstract=3005631

Jean R. Sternlight (Contact Author)

University of Nevada, Las Vegas, William S. Boyd School of Law ( email )

4505 South Maryland Parkway
Box 451003
Las Vegas, NV 89154
United States

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