Lizzie Fletcher: “The gentleman from North Dakota's argument makes the argument for the FAIR Act, because the essential point there is…”

“The gentleman from North Dakota's argument makes the argument for the FAIR Act, because the essential point there is about the ability to contract with equal bargaining power. And we have heard debate this entire morning about the imbalance that exists with these contracts of adhesion, these contracts that require arbitration as a term of employment, and that there is also somebody who benefits. And I think what we have seen is exactly what the FAIR Act is designed to prevent. The idea of equal bargaining power is not something we see in these consumer cases, in these employment cases, and that is exactly what we are here to protect. However, we have also seen the argument that this is the end of arbitration, and that is simply not the case. There is a place in our system for people who elect to arbitrate, but it must be with equal bargaining power, and it must be with full information and voluntary compliance. The amendment simply makes clear that the FAIR Act does not prohibit arbitration on a voluntary basis after a dispute arises and can't be construed to do so. Mr. Chair, it is for these reasons that I urge my colleagues to support the amendment, and I yield back the balance of my time. The Acting CHAIR. The question is on the amendment offered by the gentlewoman from Texas (Mrs. Fletcher). The amendment was agreed to. Amendment No. 1 Offered by Mr. Jordan The Acting CHAIR.…”