Tagged: CFPB arbitration class action waiver ban

Federal Consumer Financial Protection Bureau (CFPB) issues final arbitration rule.

On July 10, 2017, the CFPB issued its final consumer finance contract arbitration rule, which does not prohibit arbitration clauses in consumer financial contracts for credit cards, bank accounts, and other financial products and services–but prohibits clauses that ban class actions. This rule issued under specific authority from Congress after the 2008-09 “great recession,” and […]

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