- It ignores the practical benefits of arbitration as compared to the court system for vindicating the types of injuries that consumers most often suffer (pp. 1-3, below);
- It greatly exaggerates the supposed benefits of class actions (pp. 3-8);
- It ignores the significant role of government enforcement—particularly the CFPB’s own enforcement and supervision processes—in protecting consumers (pp. 8-9).
- It fails to consider the benefits that arbitration provides to injured parties in a variety of contexts—including in consumer arbitrations, when consumers are not discouraged by plaintiffs’ lawyers and others from invoking arbitration (pp. 9-14); and
- It wrongly denies the reduced transaction costs resulting from arbitration, which produce lower prices for consumers (pp. 14-18).
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