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Class Action › Small Business Regulatory Enforcement Fairness Act

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Ballard Spahr LLP

Will the CFPB issue a final arbitration rule before Jan. 20?

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Last week, the Wall Street Journal reported that the CFPB is pushing to finalize its arbitration rule before Donald Trump’s inauguration as President on January 20.  The comment period on the proposed rule closed on August...more

Ballard Spahr LLP

House Financial Services Committee investigating CFPB arbitration rulemaking

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On April 20, 2016, Congressman Sean Duffy sent a letter to Director Cordray indicating that the House Financial Services Committee is investigating “the examination and possible regulation by the [CFPB] of pre-dispute...more

Ballard Spahr LLP

Chamber of Commerce suggests issues for CFPB to address at May 5 arbitration field hearing

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The U.S. Chamber of Commerce’s Center for Capital Markets Competitiveness has sent a letter to Director Cordray suggesting a series of issues for Mr. Cordray to address in his prepared remarks at the CFPB’s field hearing on...more

BakerHostetler

CFPB Announces May 5 Field Hearing on Arbitration

BakerHostetler on

The CFPB announced that it is holding a field hearing on May 5, 2016, in Albuquerque, New Mexico, on arbitration. Previously, CFPB field hearings have resulted in the announcement of proposed rules. We anticipate that this...more

Ballard Spahr LLP

CFPB to hold May 5 field hearing on arbitration

Ballard Spahr LLP on

The CFPB has announced that it will hold a field hearing in Albuquerque, New Mexico about arbitration on May 5, 2016.  We expect the field hearing to coincide with the release of the CFPB’s proposed rule on the use of...more

Ballard Spahr LLP

Responding to Professor Sovern: how Dodd-Frank Section 1028 limits the CFPB’s power to regulate arbitration agreements

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In a blog post earlier this week, Professor Jeff Sovern took issue with statements made by a legal expert that suggest an amendment to the Federal Arbitration Act would be necessary for the CFPB to ban class action waivers in...more

WilmerHale

CFPB Releases Outline of Proposals to Block Pre-Dispute Arbitration Agreements in Class Litigation

WilmerHale on

On October 7, 2015, the Consumer Financial Protection Bureau (“CFPB” or the “Bureau”) released an outline of proposals under consideration to ban class action waivers in contracts for consumer financial products and services....more

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