Statement from Senator Warren on the CFPB's New Arbitration Rule
Washington, DC — U.S. Senator Elizabeth Warren released the following statement today after the Consumer Financial Protection Bureau (CFPB) issued its new rule on mandatory arbitration clauses:
"This CFPB rule will allow working families to hold big banks accountable when they're cheated and help discourage the kinds of surprise fees that consumers hate. In the upcoming months, the US Chamber of Commerce and other big business lobbying groups will go all out to get Republicans in Congress to reverse this rule, so Republicans will have to decide whether to defend the interests of their constituents or shield a handful of wealthy donors from accountability."
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