Drawing on economic, psychological and philosophical considerations, this Essay considers whether consumers should be "free" to "agree" to contractually trade their opportunity to litigate in a class action for the opportunity to bring an arbitration claim against a company. The Essay suggests that by looking at the CFPB's regulation through these three lenses, one sees that the regulation is desirable—even a poster child—for the potential value of regulation when market forces are not sufficient to protect individual or public interests.
48 St. Mary's L.J. 343 (2016)
Sternlight, Jean R., "Hurrah for the Consumer Financial Protection Bureau: Consumer Arbitration as a Poster Child for Regulation" (2016). Scholarly Works. 1029.