Dear Senator Toomey:
I am writing on behalf of the U.S. Chamber Institute for Legal Reform as follow-up to your recent request for information regarding proposals to foster economic growth and capital formation. As more fully discussed below, we suggest that the Senate Banking Committee take action to abrogate the U.S. Supreme Court’s Cyan decision as well as engage in oversight over any attempts by the SEC and/or CFPB to restrict the availability and use of pre-dispute arbitration clauses as a way to resolve disputes. Each of these areas are discussed in turn.
