May 17, 2016

Law360 quotes Allyson Baker on House hearing over CFPB arbitration fight

1 min

Venable partner Allyson Baker was quoted in a May 17, 2016 Law360 article on an upcoming House hearing on the Consumer Financial Protection Bureau's (CFPB) proposal to limit mandatory arbitration clauses. The CFPB's proposal would prevent banks, payday lenders and other consumer financial services providers from banning class actions in their arbitration clauses.

Discussing a 2013 study into the effects of mandatory arbitration resulting in the proposed rule and mandated by the Dodd-Frank Act, Baker said, "The bureau would say one may not drive the other. Affected enterprises might say that the study may be the predicate of the rule." Commenting on the House hearings Baker added, "People are looking at those issues and trying to figure out what they can argue in that vein."