On October 7, 2015, the Consumer Finance Protection Bureau announced that based on its March 15, 2015, study of arbitration agreements in credit card, checking account, and other consumer finance agreements, it is developing a rule barring banks and other covered businesses from including class action bans in their arbitration agreements.  The rule is still under development pending further public input and review and is unlikely to go into effect before 2017.

The rule will not bar post-dispute arbitration agreements.  I am writing an article on this topic for the ABA Section of Litigation, Class Actions and Derivative Suits (CADS) Committee newsletter, and will include that piece on the Articles tab here once published.  Drew.