[a]rbitration clauses, as they are used today both in the field of consumer finance and more generally, often have been deliberately designed to block Americans from effective means of vindicating their rights.
Cordray criticizes arbitration clauses that hinder consumer rights.
Share
More from Richard Cordray
On top of the historic debt that we have pushed upon tens of millions of Americans, they face a financial marketplace that is littered with predatory players.
I remain committed to ensuring the OCC completes its review of this matter and takes additional actions to hold the bank and individuals accountable as warranted.
Anything that is attempting or seeking to compromise our independence will make it harder for us to do our job.