§ 5518. Authority to restrict mandatory pre-dispute arbitration
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/usc/title-12/section-5518A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Study and report The Bureau shall conduct a study of, and shall provide a report to Congress concerning, the use of agreements providing for arbitration of any future dispute between covered persons and consumers in connection with the offering or providing of consumer financial products or services.
(b)Further authority The Bureau, by regulation, may prohibit or impose conditions or limitations on the use of an agreement between a covered person and a consumer for a consumer financial product or service providing for arbitration of any future dispute between the parties, if the Bureau finds that such a prohibition or imposition of conditions or limitations is in the public interest and for the protection of consumers. The findings in such rule shall be consistent with the study conducted under subsection (a).
(c)Limitation The authority described in subsection
(b)may not be construed to prohibit or restrict a consumer from entering into a voluntary arbitration agreement with a covered person after a dispute has arisen.
(d)Effective date Notwithstanding any other provision of law, any regulation prescribed by the Bureau under subsection
(b)shall apply, consistent with the terms of the regulation, to any agreement between a consumer and a covered person entered into after the end of the 180-day period beginning on the effective date of the regulation, as established by the Bureau.
(Pub. L. 111–203, title X, § 1028, July 21, 2010, 124 Stat. 2003.)
Connections23 cite this · traces to 1
Cited by 23 sections · top 18
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- Sec. 2Repeal of authority to restrict mandatory pre-dispute arbitration
- Sec. 1Repeal of authority to restrict arbitration
- Sec. 338Repeal of authority to restrict arbitration
- Sec. 338Repeal of authority to restrict arbitration
- Sec. 738Repeal of authority to restrict arbitration
- Sec. 737Repeal of authority to restrict arbitration
- Sec. 738Repeal of authority to restrict arbitration
- Sec. 930Repeal of authority to restrict arbitration
- Sec. 929Repeal of authority to restrict arbitration
- Sec. 929Repeal of authority to restrict arbitration
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- Pub. L. 111–203, title X, § 1028
- 124 Stat. 2003
- section 1029A of Pub. L. 111–203
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§ 5518
Authority to restrict mandatory pre-dispute arbitration
Fed. Reg.×11
Bills×10
Stat. Comp.×1
Stat.×1
Pub. L.Pub. L. 111–203, title X, § 1028
Stat.124 Stat. 2003
Pub. L.section 1029A of Pub. L. 111–203
Cites 4Cited by 23 across 4 sources