News & Analysis as of

Federal Arbitration Act › Richard Cordray

The Federal Arbitration Act is a United States federal statute enacted in 1925 that governs arbitration in contracts implicating interstate commerce. The Act applies in both federal and state courts. 
Bilzin Sumberg

CFPB Arbitration Rule Eliminated by Congress and President

Bilzin Sumberg on

On November 1, President Trump formally did away with a Consumer Financial Protection Bureau (CFPB) arbitration rule that would have given consumers the opportunity to file class actions against banks and other companies in...more

Ballard Spahr LLP

Director Cordray responds to questions on proposed arbitration rule

Ballard Spahr LLP on

Director Cordray has sent a letter to Senator Jeff Flake responding to a series of questions posed by the Senator on the CFPB’s proposed arbitration rule. The comment period on the proposed rule closed on August 22, 2016. ...more

Moore & Van Allen PLLC

Consumer Financial Protection Bureau’s Dodd-Frank Study Scrutinizes Arbitration Agreements & Class Action Waivers

Moore & Van Allen PLLC on

On Tuesday, the Consumer Financial Protection Bureau (“CFPB”) released its long-awaited “Arbitration Study: Report to Congress, pursuant to Dodd–Frank Wall Street Reform and Consumer Protection Act § 1028(a)”, which presents...more

McGuireWoods LLP

State Attorneys General Urge CFPB to Regulate Arbitration Clauses in Consumer Agreements

McGuireWoods LLP on

Late last year, the attorneys general of California, New York, Illinois and 13 other states urged the CFPB to use its statutory authority to “regulate pre-dispute mandatory arbitration clauses in consumer agreements for...more

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