U.S. Consumer Financial Protection Bureau

Even if you win in arbitration, you still lose

Even if you win in arbitration, you still lose

Congress recently began a fast track process to repeal a new rule by the Consumer Financial Protection Bureau (CFPB) that protects consumers’ right to band together in class action lawsuits when companies engage in widespread wrongdoing. The saga of the Martin-Bowens of Glen Burnie shows why preserving the rule is important.

The U.S. Army had just relocated Prentice Martin-Bowen, his wife Tinker and their children to Maryland, and Prentice was about to begin his fourth deployment. Prentice’s father was dying, their cars were breaking down, and they needed a reliable car.

They found a buy-here-pay-here used car dealer who took their two cars as trade-ins, valued at $1,000 each,...

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