President Obama's administration is urging a new Federal agency be able to regulate the use of arbitration in consumer transactions.

Today's hearing is not focused on a specific industry.

If you don't want people to blow the whistle, take the laws off the books.

This bill that I have introduced is for the families across the Nation who face similar decisions at a time when they are least prepared to make them.

We are looking at many changes to the realm of arbitration.

Gentlemen, you are not in Kansas anymore.

This bill is fundamentally about fairness.

It is incredible that anyone in this room on this Committee would suggest that for-profit justice where the decision maker has an economic interest in the outcome of the case is equivalent to our constitutional system of justice.

Legislation that protects consumers and employees is a common-sense solution for all Americans.

In short, I believe that Congress should act to protect these vulnerable families.

The Federal Trade Commission is examining this process as well.

This past May, this Subcommittee held a hearing focused on the credit card industry's use of arbitration.