SEC building Senate Democrats, consumer groups and plaintiffs’ attorneys are among those who have earlier called on Clayton to maintain the policy. (Photo: AP)

(Bloomberg) –State treasurers from California, Illinois, Iowa, Oregon, Pennsylvania and Rhode Island are joining a push to persuade U.S. Securities and Exchange Commission Chairman Jay Clayton to uphold the agency’s longstanding position against mandatory shareholder arbitration clauses.

In a letter dated July 2, the treasurers led by California’s John Chiang expressed concern about reports that the SEC was considering a change in the policy.

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