If you have a dispute with Acorns — over fees, investment losses, or any other issue — you must resolve it through FINRA arbitration, not in a courtroom. You have 30 days from signing up to opt out of this requirement by sending written notice to Acorns.
Consumer impact (what this means for users)
This clause removes your right to take Acorns to court over investment or account disputes and requires you to use FINRA arbitration instead, which limits your procedural rights and appeal options as an individual investor.
What you can do
⚠️ These actions may provide transparency or partial mitigation but may not fully address the underlying issue. Effectiveness varies by jurisdiction and individual circumstances.
Opt Out of Arbitration
Within 30 days
Send a written notice stating your name, account number, and intent to opt out of the mandatory arbitration clause to Acorns within 30 days of first accepting the Terms of Use. Retain a copy and use certified mail to confirm delivery.
Cross-platform context
See how other platforms handle Mandatory Pre-Dispute FINRA Arbitration and similar clauses.
Arbitration is typically faster and cheaper than court but limits your ability to appeal decisions, restricts discovery, and often favors businesses over individual consumers in financial disputes.
View original clause language
You acknowledge that you have read these Terms of Use, and accept, understand and will be bound by such terms and conditions. You further acknowledge that these Terms of Use contain a pre-dispute arbitration clause. By signing the application, you are agreeing to have any controversy or claim arising out of or relating to your Account or your relationship with Acorns resolved by arbitration administered by the Financial Industry Regulatory Authority (FINRA). You may opt-out of binding arbitration by providing written notice to Acorns within 30 days of first accepting these Terms of Use.
(1) REGULATORY FRAMEWORK: FINRA Rule 12200 (Customer Code of Arbitration Procedure) governs the arbitration forum specified. The Dodd-Frank Act (Section 921) authorized the SEC to restrict mandatory arbitration for investment advisers and broker-dealers, though no final rule has been issued. FTC Act Section 5 and CFPB authority under Dodd-Frank Section 1028 are implicated; the CFPB issued a 2017 rule limiting mandatory arbitration in consumer financial products that was subsequently voided by Congress but remains a regulatory flashpoint. Primary enforcement authorities: FINRA, SEC, CFPB, and state AGs.
(2)
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Acorns Advisers is an SEC-registered investment adviser and Acorns Securities is a FINRA/SIPC broker-dealer; SEC oversees mandatory arbitration disclosures for registered entities.