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Senate passes arbitration‑transparency bill after clash over FINRA, reporting requirements
Summary
The Legislature approved a bill requiring arbitration organizations that handle 50+ consumer cases to publish aggregated case data and take steps to avoid conflicts of interest; sponsors said it increases transparency, opponents warned of regulatory burdens and possible federal preemption concerns from FINRA.
The Senate on April 20 approved legislation to require arbitration organizations that handle at least 50 consumer cases annually to report summary information to the public and to adopt conflict‑of‑interest safeguards.
Sponsor Senator Kavanaugh said the bill is aimed at transparency and accountability in consumer arbitration — not to eliminate arbitration as a process — and pointed to long‑standing models in the District of Columbia, Maryland and California. He…
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