A statement from David Arkush of the Fair Arbitration Now Coalition released to coincide with Tuesday's hearing by the Senate Banking Committee on President Obama's proposed Consumer Financial Protection Agency, "Consumer Financial Protection Agency Bill is Right to Address Forced Arbitration, Says Coalition." Arkush is the Director of Public Citizen's Congress Watch Division, and the statement was posted at the American Association for Justice's website.
Meanwhile, the House Committee on Oversight and Investigations, Domestic Policy Subcommittee, will hold a hearing next Wednesday, "Arbitration or 'Arbitrary': The Misuse of Arbitration to Collect Consumer Debts." From Chairman Dennis Kucinich:
The purpose of this hearing is to evaluate contractually-mandated arbitration of disputes between businesses and consumers in the context in which the vast majority of those disputes occur--the collection of debts from consumers. The hearing will evaluate whether consumer debt collection arbitration, as currently administered, produces results that are fair and legitimate.
Among the witnesses is Attorney General Lori Swanson of Minnesota.