Consumer Financial Protection and Human Rights

IF 0.2 Q4 INTERNATIONAL RELATIONS CORNELL INTERNATIONAL LAW JOURNAL Pub Date : 2017-01-01 DOI:10.31228/osf.io/3gvbc
Chrystin D. Ondersma
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引用次数: 1

Abstract

This summer the Consumer Financial Protection Bureau proposed a rule that would restrict the use of mandatory arbitration clauses in consumer financial credit contracts. With the administration and Congress seemingly eager to pull back on consumer financial regulations, it is crucial to examine the rights at stake. Many financial institutions have agreed to protect and promote human rights, so pressure from consumers, human rights organizations, and consumer protection advocates may succeed even though Congress has declined to promulgate the CFPB’s proposed rule. This Article argues that the existing binding, mandatory arbitration system in consumer credit contracts is inconsistent with human rights principles, including property rights, rights to be free from discrimination, and due process rights. This Article then evaluates the CFPB’s rule from a human rights standpoint, and explores the CFPB’s role in mitigating human rights concerns triggered by arbitration clauses in consumer credit contracts.
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消费者金融保护与人权
今年夏天,美国消费者金融保护局(Consumer Financial Protection Bureau)提出了一项规定,将限制在消费者金融信贷合同中使用强制性仲裁条款。鉴于政府和国会似乎急于放松对消费者金融的监管,审视受到威胁的权利至关重要。许多金融机构已经同意保护和促进人权,因此,即使国会拒绝颁布CFPB的拟议规则,来自消费者、人权组织和消费者保护倡导者的压力也可能成功。本文认为,现行消费信贷合同中具有约束力的强制性仲裁制度不符合人权原则,包括财产权、不受歧视的权利和正当程序权利。然后,本文从人权的角度对CFPB的规则进行了评价,并探讨了CFPB在缓解消费者信贷合同中仲裁条款引发的人权问题方面的作用。
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期刊介绍: Founded in 1967, the Cornell International Law Journal is one of the oldest and most prominent international law journals in the country. Three times a year, the Journal publishes scholarship that reflects the sweeping changes that are taking place in public and private international law. Two of the issues feature articles by legal scholars, practitioners, and participants in international politics as well as student-written notes. The third issue is dedicated to publishing papers generated by the Journal"s annual Symposium, held every spring in Ithaca, New York.
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