Economic Policy Institute issues report saying average consumer does better in a class action than in arbitration

August 1, 2017
By Steve Larson

The Economic Policy Institute just released a fact sheet debunking industry claims that consumers recover more money in arbitration than class actions.

They re-examined data from the CFPB study and found that the average consumer is ordered to pay their bank or lender $7,725 in arbitration.

Industry lobbyists and some GOP Congress members have suggested that average consumers win $5,389 in arbitration. The Economic Policy Institute says the numbers are clear: average consumers lose in arbitration, and end up on the hook for $7,725 or more. A link to the report is attached, accessed by clicking here.

Categories: Class Action Facts, Consumer Protection, Forced Arbitration

Tags: arbitration, Economic Policy Institute, forced arbitration, Mandatory Arbitration

Steve Larson

An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, environmental clean-up litigation, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve’s clients value his creative approach to resolving complex litigation matters.

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