News & Analysis as of

Mandatory Arbitration Clauses Banks

Bradley Arant Boult Cummings LLP

Will the Future Bring a Surge of Class Actions against Banks and Credit Card Companies?

On July 10, 2017, the Consumer Financial Protection Bureau formally issued its long-anticipated final rule banning class waivers in future arbitration agreements for banks, lenders, debt counselors, credit card issuers,...more

Vedder Price

Another Day, Another Regulation: A Summary and Description of the CFPB’s Arbitration Rule

Vedder Price on

On July 10, 2017, the Consumer Financial Protection Bureau (the “CFPB”) finalized its proposed arbitration rule that will prohibit providers of certain consumer financial products and services from requiring a consumer to...more

Polsinelli

Gone For Good: Federal Court Denies Arbitration Opportunity

Polsinelli on

A recent decision from the United States District Court for the Southern District of Florida is a reminder that if a litigant intends to enforce its contractual arbitration provision, the issue must be raised at an early...more

Manatt, Phelps & Phillips, LLP

LendingClub Hit With Class Action Over Usurious Interest

A New York resident, Ronald Bethune, accused LendingClub Corporation of violating the state's usury laws by charging him 29.97 percent interest on his loan—roughly twice the 16 percent limit under New York law and high enough...more

Baker Donelson

Flaws and All, CFPB's Arbitration Study Sparks Vigorous Debate over Next Steps in Regulating Mandatory Arbitration Clauses

Baker Donelson on

As expected, the reaction to the Consumer Financial Protection Bureau's (CFPB) arbitration study report, released in March 2015, has been vociferous. All sides of this important debate are loudly proclaiming that their...more

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