SFIG Responds to CFPB on Arbitration Proposal

On August 22, 2016, SFIG submitted a comment letter to the Consumer Financial Protection Bureau (CFPB) on its proposal for Arbitration Agreements released on May 24, 2016.

The letter sets forth SFIG membership’s concerns regarding changes in the use of mandatory arbitration clauses in credit contracts for various collateral types in securitization transactions, and the impact that the resulting uncertainty will have on ABS market liquidity, and also on the price and availability of credit to U.S. consumers.

SFIG also signed on to a joint-trades comment letter responding to the CFPB proposal. 

To become involved in SFIG’s advocacy on the issues related to the CFPB’s arbitration proposal or related matters, please contact Alyssa.Acevedo@sfindustry.org.

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