Political Quotes

“I thank the gentleman for the time and also his great work as chairman of the subcommittee. As a proud member of the subcommittee, we are going to miss Mr. Crenshaw. It has been a delight to work with him as well as the ranking member, Mr. Serrano, for his tireless effort on behalf of these issues. Mr. Chairman, for 90 years--for 90 years--Federal law has protected the enforceability of arbitration agreements because arbitration provides an alternative method of resolving disputes that is quicker and cheaper than the expensive, overburdened court system. Hundreds of millions of contracts are based on this principle: credit card contracts, checking accounts, Internet agreements, cell phones, and cable TV. There are dozens of contracts that have this provision. Don't let my colleagues across the aisle fool you on this subject. Arbitration empowers individuals. Injured parties can obtain fair resolution of disputes without the need of an attorney. But many oppose this approach, particularly plaintiffs' attorneys, because arbitration proceedings can't be used to bring lawyer-driven class actions that provide millions in legal fees but little or no benefit to the consumer. Dodd-Frank authorized the CFPB to conduct a study of arbitration and at the same time granted CFPB authority to promulgate a regulation for related products or services within the bureau's jurisdiction. However, this authority was caveated, Mr.…”