Arbitration Reform

The act:Prohibits a provision in an arbitration agreement that requires an employee to an employer and employee contract or a consumer to a business and consumer contract to pay fees that substantially exceed the costs required to file a claim in state or federal court, except as preempted by federal law, and disallows the waiver of this prohibition;Prohibits an individual from serving as an arbitrator if the individual has a rule, policy, procedure, or demonstrated pattern of conduct that discriminates, or prevents, or has the effect of preventing, a certain party, type of party, or attorney from asserting the party's right in arbitration or bringing a claim in arbitration; andRequires a…