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Mandatory Arbitration Clauses › Richard Cordray

Morrison & Foerster LLP

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

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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

Clark Hill PLC

Payday Lending, Exemption for Community Banks, Arbitration and Ally Were the Hot Topics During CFPB Director Cordray's Testimony...

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There was no shortage of emotionally charged rhetoric and pointed accusations during yesterday's testimony of the Consumer Financial Protection Bureau's (CFPB or "Bureau") Director, Richard Cordray, before the House Financial...more

McGuireWoods LLP

CFPB’s Corday Reiterates Intent to Pursue Rulemaking on Consumer Arbitration Clauses, Despite Opposition

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In testimony before the Senate Committee on Banking, Housing & Urban Affairs on July 15, CFPB Director Richard Cordray affirmed the Bureau’s intention to proceed with rulemaking governing arbitration clauses in consumer...more

McGuireWoods LLP

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

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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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