Political Quotes

“Madam Chair, I yield myself such time as I may consume. Madam Chair, I want to respond briefly to the notion that somehow forced arbitration is good for consumers and workers and that they are really going to miss being forced into these proceedings. According to a 2017 study by the Economic Policy Institute, consumers won only 9 percent of the claims brought in arbitration while companies won 93 percent of the claims. So in terms of who wins, who has the benefit of this rigged system, it is clear that it is the corporations. The Economic Policy Institute's economist, Heidi Shierholz, notes that ``not only do companies win in the overwhelming majority of claims when consumers are forced into arbitration, they win big.'' The Consumer Financial Protection Bureau concluded in 2015 that there is ``no evidence of arbitration clauses leading to lower prices for consumers.'' So this notion that even though 83 percent of the American people are against forced arbitration and even though the evidence shows overwhelmingly that they lose in them, that somehow they really like them, it is just not true. I reserve the balance of my time.”