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Consumer Contracts Final Rules Consumer Financial Products

Latham & Watkins LLP

Unpacking the FTC’s New Negative Option Rule, Its Legal Challenges, and Future Uncertainty

Latham & Watkins LLP on

The rule impacts both B2B and B2C subscription autorenewals and other negative option programs; however, significant legal challenges could impact the rule’s implementation....more

Ballard Spahr LLP

Comment letters from consumer advocates bolster case against CFPB rulemaking on post-dispute arbitration clauses

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We previously reported and released a podcast episode on comments that we and Professor David Sherwyn of Cornell University submitted in opposition to the Petition for Rulemaking filed by a number of consumer advocacy groups...more

Ballard Spahr LLP

Consumer Advocates Petition CFPB to Undertake Rulemaking to Prohibit “Pre-dispute” Consumer Arbitration Clauses

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Earlier last week, a group of consumer advocate organizations filed a Petition for Rulemaking with the CFPB that would prohibit the use of pre-dispute arbitration clauses in consumer contracts in favor of arbitration clauses...more

Katten Muchin Rosenman LLP

CFPB Arbitration Rule Summary: Class Action Waivers Prohibited in Broad Range of Consumer Credit Transactions

On July 10, the Consumer Financial Protection Bureau (CFPB) issued its Final Arbitration Rule. While the CFPB's Final Rule publication weighs in at 775 pages, the rule itself occupies only 11 pages, and the Official...more

Bass, Berry & Sims PLC

Arbitration Regulation Bars Class Action Waivers

Bass, Berry & Sims PLC on

On July 10, the Consumer Financial Protection Bureau(CFPB) issued its final rule preventing certain financial product and service providers from including in their consumer contracts pre-dispute arbitration provisions that...more

Ballard Spahr LLP

Lawsuit filed challenging Dept. of Education “borrower defense” final rule banning arbitration

Ballard Spahr LLP on

The California Association of Private Postsecondary Schools (CAPPS) has filed a complaint in D.C. federal district court against the Dept. of Education and Education Secretary Betsy DeVos to overturn the “borrower defense”...more

Ballard Spahr LLP

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

Ballard Spahr LLP on

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

Burr & Forman

The Best Defense is a Good Strategy: Planning for the Arbitration Rule

Burr & Forman on

On May 5, 2016, the Consumer Financial Protection Bureau (“CFPB”) held its fourth field hearing on Arbitration and issued a proposed Rule that would prohibit the use of arbitration clauses that block consumers’ participation...more

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