Building the CFPB's Arbitration Archive: A Commentary on Design, Implementation, and Privacy
17 Pages Posted: 26 Apr 2016
Date Written: April 25, 2016
Abstract
The Consumer Financial Protection Bureau’s (CFPB) is considering a proposal to require the submission of arbitral claims and awards, which could be published online by the CFPB. The proposal’s justifications include analyses of trends, diagnostics of arbitrator bias, and confidence in the arbitral system through transparency. This article considers the potential role of archive design and collection in the effectiveness of the arbitration archive. We focus on how submission requirements and data structure may affect the usefulness of the archive, especially for empirical analyses. We also discuss the unique privacy issues at stake. The analysis draws on legal considerations applicable to the financial services sector and potentially covered persons, the design of existing government managed data archives of industry data, and previous studies of arbitral claims and awards.
Keywords: arbitration, data collection, consumer financial services
JEL Classification: C8, K2
Suggested Citation: Suggested Citation