Today, AFSA signed on to a joint letter to the Members of the House of Representatives opposing HR 963, which would ban arbitration in private contracts. Pre-dispute arbitration clauses benefit consumers, small businesses and employees and have been protected in federal law since 1925.
“The only clear beneficiaries of broadly eliminating cost-effective and fair arbitration as a viable way to resolve disputes are class action lawyers, who would directly benefit from increased class action litigation,” the joint trades wrote. “Studies have shown that class action settlements frequently provide, at best, a very low return to class members while class action attorneys take in millions of dollars. Their gain would come at the expense of consumers, small businesses, and employees, many of whom are not even eligible to participate in class action litigation.”
AFSA has emphasized the important role that pre-dispute arbitration plays in our economy and most recently, wrote to Senate Committee on Banking, Housing, and Urban Development Chairman Sherrod Brown (D-OH) and Ranking Member Patrick Toomey (R-PA) on the committee’s hearing.
AFSA Opposes Arbitration Ban Bill
Mar 15, 2022
Today, AFSA signed on to a joint letter to the Members of the House of Representatives opposing HR 963, which would ban arbitration in private contracts. Pre-dispute arbitration clauses benefit consumers, small businesses and employees… Read the rest
WOMAN LEADER OF THE DAY | Nikki Munro
Mar 15, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest
WOMAN LEADER OF THE DAY | Patty Covington
Mar 14, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest
House Republicans Ask CFPB For Answers on Auto
Mar 11, 2022
This week, eleven Republican members of the House Financial Services Committee sent Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra a letter regarding the director’s recent blog posts on vehicle finance.
The signatories… Read the rest
WOMAN LEADER OF THE DAY | Kristin Karwat
Mar 11, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest
WOMAN LEADER OF THE DAY | Mary McDowell
Mar 10, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest
CBCI Report Finds Rate Caps Harmful
Mar 10, 2022
This week, the Congressional Black Caucus Institute’s (CBCI) 21st Century Council published its 2022 Annual Report, which addresses a variety of major policies and regulations currently affecting the United States, including topics … Read the rest
WOMAN LEADER OF THE DAY | Anne Kurz
Mar 09, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest
NM HB 132 Signing and Comment Letter
Mar 09, 2022
On Tuesday March 1, New Mexico Governor Michelle Lujan Grisham (D) signed HB 132/Chapter 23 into law. Effective January 1, 2023, this new law creates a 36 percent all-in Annual Percentage Rate (APR) rate cap. Once it takes effect, New Mexico… Read the rest
Woman Leader of the Day | Marguerite Watanabe
Mar 08, 2022
AFSA is proud to celebrate the crucial role female executives play throughout the financial services industry. From small companies to large, installment loans to vehicle finance products, female leaders are building the future of our … Read the rest