The financial services industry is already opposing the Consumer Financial Protection Bureau’s moves to restrict arbitration clauses on credit card, bank account and other contracts, and could challenge in court any final rules using recent U.S. Supreme Court rulings and even the Dodd-Frank Act itself against the bureau. Continue reading “Big Banks will fight CFPB rules on class action waivers”

The Consumer Financial Protection Bureau (“CFPB”) announced on October 7, 2015, that it is proposing rules to permit arbitration clauses that will allow consumers to bring class action lawsuits.

Continue reading “CFPB announces draft rules to forbid lenders from imposing class action bans in arbitration clauses”