These are the notes from the bottom of the page, written in small characters, those damn clauses that are fundamentally changing a contract without noticing it. In the specific case of us financial institutions, they prevented the consumer dissatisfied, the client is denied or the student debt to join together and sue collectively, a ” class action “. They had to pass necessarily by the case to arbitration, a private hearing lost in most cases.
But after the terrible crisis of the subprime, these loans real estate risk that led to the bankruptcy of millions of households, and blew up the system, the Obama administration had led to the adoption of a new regulation which would make these provisions inoperative and to engage in group trials. Unbearable for Wall Street. The republicans are in charge of disassembling the mechanism.