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Class Action Arbitration Waivers Mandatory Arbitration Clauses Consumer Financial Contracts

Eversheds Sutherland (US) LLP

Spoiling for a Fight: CFPB Issues Ban on Class Waivers, Daring Congress to Act

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited and controversial rule prohibiting class action waivers in consumer contracts. Unless Congress uses the Congressional Review Act (CRA)...more

Dorsey & Whitney LLP

What You Need to Know about CFPB’s Proposal to Ban Mandatory Arbitration Clauses in Financial Contracts

Dorsey & Whitney LLP on

On May 5, 2016, the Consumer Financial Protection Bureau (the “CFPB”) published in the Federal Register its 376-page proposed rule to limit the use of mandatory arbitration clauses in certain financial contracts. The proposal...more

Ballard Spahr LLP

CFPB Releases Spring 2016 Rulemaking Agenda

Ballard Spahr LLP on

The Consumer Financial Protection Bureau (CFPB) has released its Spring 2016 rulemaking agenda. The agenda sets the following timetables for key rulemaking initiatives: Arbitration. The Spring 2016 agenda does not...more

K&L Gates LLP

CFPB’s Proposed Rule Would Put the Brakes on Pre-Dispute Arbitration Clauses in Consumer Financial Contracts

K&L Gates LLP on

Congress enacted the Federal Arbitration Act in the 1920s to deter hostility toward arbitration. Despite numerous Supreme Court rulings over the decades upholding that goal, arbitration continues to face hostility. The...more

Katten Muchin Rosenman LLP

CFPB Issues Proposed Rule to Restrict the Use of Mandatory Arbitration Clauses and Class Action Waivers

If implemented, the Proposed Rule will result in an increase in class action lawsuits against consumer finance companies that currently include class action waivers in their contracts. ...more

Morrison & Foerster LLP

The Time Has Come: The CFPB Issues its Proposed Arbitration Rule

As widely anticipated, the Consumer Financial Protection Bureau (CFPB) issued a Notice of Proposed Rulemaking seeking comments on proposed regulations that would: 1) bar class action waivers; and 2) impose reporting...more

King & Spalding

CFPB Proposes Rule Prohibiting Class Action Waivers And Requiring Reporting Of Arbitration Information

King & Spalding on

On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) announced a proposed rule that would ban the use of class action waivers in agreements between consumers and certain providers of consumer financial products...more

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