The CFPB put out a study earlier this month that concluded that arbitration agreements restrict consumers’ relief for disputes with financial service providers by limiting class actions. According to the study, very few consumers individually seek relief through arbitration or the federal courts, while millions of consumers are eligible for relief each year through class action settlements. The report also found that more than 75 percent of consumers surveyed did not know whether they were subject to an arbitration clause in their agreements with their financial service providers. Further, fewer than 7 percent of those covered by arbitration clauses realized that the clauses restricted their ability to sue in court.The CFPB said its review of case data from the ...