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.
This analysis describes what Acorns's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The arbitration requirement establishes FINRA as the forum for dispute resolution, which alters the procedural framework for addressing disagreements between the user and Acorns from judicial proceedings to an alternative dispute resolution mechanism.
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.
How other platforms handle this
You and Teachable agree to resolve any disputes through final and binding arbitration, except as set forth under Exceptions to Agreement to Arbitrate below. You also agree that disputes will only be resolved on an individual basis and not as a class, consolidated, or representative action.
Any dispute arising from or relating to the subject matter of these Terms shall be finally settled by arbitration in San Francisco County, California, in accordance with the Streamlined Arbitration Rules and Procedures of Judicial Arbitration and Mediation Services, Inc. ("JAMS") then in effect, by ...
THESE TERMS REQUIRE THE USE OF ARBITRATION (SECTION 12.2) ON AN INDIVIDUAL BASIS TO RESOLVE DISPUTES, RATHER THAN JURY TRIALS OR CLASS ACTIONS, AND ALSO LIMIT THE REMEDIES AVAILABLE TO YOU IN THE EVENT OF A DISPUTE.
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"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.— Excerpt from Acorns's Acorns Terms of Service
(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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Coinbase's User Agreement includes a mandatory arbitration clause that most users may not have reviewed. Here is what the clause states and how the opt-out process works.
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The arbitration requirement establishes FINRA as the forum for dispute resolution, which alters the procedural framework for addressing disagreements between the user and Acorns from judicial proceedings to an alternative dispute resolution mechanism.
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.
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