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Consumer Financial Contracts Financial Services Industry Class Action Arbitration Waivers

Parker Poe Adams & Bernstein LLP

After Congress Kills CFPB Arbitration Rule, What’s Next?

Congress has passed – and the Trump administration has signaled that the president will sign – a bill to roll back the Consumer Financial Protection Bureau’s sweeping arbitration rule, which the White House has called...more

Dorsey & Whitney LLP

Senate Republicans Sink Controversial CFPB Anti-Arbitration Rule: Lessons Learned for the CFPB

Dorsey & Whitney LLP on

This post describes the recent move in Congress to rescind the CFPB rule, and what this means for the CFPB and the financial services industry going forward. On October 24th, the Senate voted 51-50 to overturn the Consumer...more

Nutter McClennen & Fish LLP

Nutter Bank Report, July 2017

CFPB Arbitration Rule Will Prevent Firms From Blocking Class Action Lawsuits - The CFPB has approved a new rule that will prohibit banks and other covered providers of certain consumer financial products and services from...more

Goodwin

Republicans File Congressional Review Act Challenge to CFPB’s Arbitration Rule

Goodwin on

As LenderLaw Watch previously reported, on July 10, 2017 the Consumer Financial Protection Bureau (CFPB) released its Arbitration Rule, which blocks the use of mandatory arbitration clauses in consumer financial products and...more

Parker Poe Adams & Bernstein LLP

CFPB’s New Arbitration Rule and How It’ll Likely Be Challenged

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) announced a new rule that may have significant ramifications for the financial industry. The rule aims to stop a now common feature in financial services...more

BCLP

New CFPB Rule Prohibits Class Action Waivers

BCLP on

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) released a rule prohibiting class action waivers in certain pre-dispute arbitration agreements. The rule drastically impacts arbitration clauses currently used...more

Brownstein Hyatt Farber Schreck

CFPB Moves to Eliminate Class Action Waivers in Arbitration Clauses, but Congress Looks to Keep the Rule Off the Books

On July 10, 2017, the Consumer Financial Protection Bureau (CFPB) unveiled a long-awaited and highly contentious final rule to severely curtail the scope of arbitration clauses in consumer financial contracts. While the rule...more

Ballard Spahr LLP

House FY 2017 appropriations bill would curb CFPB authority, require another arbitration study

Ballard Spahr LLP on

The fiscal year 2017 appropriations bill approved last week by the House Financial Services and General Government Appropriations Subcommittee of the House Appropriations Committee includes the following provisions intended...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

Eversheds Sutherland (US) LLP

Class Action Report: 2010-2015

Over the last decade, the U.S. Supreme Court issued a string of opinions with profound implications for the enforceability of arbitration provisions and class action waivers in consumer contracts. These decisions, the most...more

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