Jeff Sovern
Professor Sovern authored an op-ed appearing on the New York Times DealBook web pages, When Consumers Give Up Their Right to Trial in Financial Disputes, about the St. John’s arbitration study, co-authored by Professors Elayne E. Greenberg and Paul F. Kirgis, as well as St. John’s Director of Institutional Assessment Yuxiang Liu. The essay concludes:
[O]ur survey suggests that consumers are surrendering fundamental rights without knowing it because they cannot comprehend the contracts that strip them of those rights and do not realize that courts will uphold the contracts. Congress has given the Consumer Financial Protection Bureau the power to block financial companies from taking those rights away, and the agency is studying the issue. The agency would do well to decide that companies can’t take advantage of these bewildering contracts.
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