H.R.1443 - Consumer Fairness Act of 2007110th Congress (2007-2008)
|Sponsor:||Rep. Gutierrez, Luis V. [D-IL-4] (Introduced 03/09/2007)|
|Committees:||House - Financial Services|
|Latest Action:||03/09/2007 Referred to the House Committee on Financial Services.|
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Summary: H.R.1443 — 110th Congress (2007-2008)All Bill Information (Except Text)
Introduced in House (03/09/2007)
Consumer Fairness Act of 2007 - Amends the Consumer Credit Protection Act to treat as an unfair and deceptive trade act or practice under federal or state law any written provision in a consumer transaction or contract which requires binding arbitration to resolve a controversy arising out of or related to the transaction or contract, or the failure to perform any part.
Declares such a provision unenforceable.
Permits a written agreement to determine an existing controversy by binding arbitration if the parties agree after the controversy has arisen.