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Neugebauer Statement on CFPB Arbitration Proposal

Statement

Date: Oct. 7, 2015
Location: Washington, DC
Issues: Employment and Affirmative Action Finance and Banking

Rep. Randy Neugebauer (R-TX), Chairman of the Financial Institutions and Consumer Credit Subcommittee, released the following statement today after the CFPB unveiled its arbitration proposal:

"Today's proposed regulatory outline from the CFPB would essentially ban arbitration under the guise of consumer protection. Unfortunately, the Bureau disingenuously ignores arbitration's pro-consumer features, which were highlighted in its own study. This latest effort will create more jobs and opportunity for trial lawyers instead of helping hardworking Americans on Main Street. The American people deserve consumer protection policy that is not politically driven by the trial bar and unelected and unaccountable bureaucrats in Washington. This fall, the Financial Institutions and Consumer Credit Subcommittee will continue to examine this issue more closely."


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