CFPB Director Richard Cordray has published a response to recent criticisms of the Bureau’s arbitration rule, which stops consumer finance companies from using arbitration agreements to block consumers from joining together to seek relief for industry wrongdoing.
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A collection of the latest releases, tips, updates, known scams, and information from CFPB and other federal agencies working to support the millions of people affected by the Equifax data breach.
Our latest tips and updates on the Equifax data breach affecting millions of people.
Arbitration clauses in consumer financial product and service contracts like credit cards and bank accounts prevent groups of people from taking companies to court for harms that affect many people. Our new rule will help the many people who are harmed together take action together.
Today, we are proposing rules that would prohibit mandatory arbitration clauses that deny groups of consumers their day in court. Our proposal is designed to protect consumers’ right to pursue justice and relief and deter companies from violating the law.
Today, we're live from Albuquerque, New Mexico, hosting a field hearing about arbitration
Buried in many contracts for consumer financial products are arbitration clauses that block consumers from seeking relief through class action lawsuits. Today, we’re releasing proposals under consideration that would stop companies from using these clauses to avoid accountability to their customers.
Today, we held a field hearing on arbitration in Denver. The hearing featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.
RSVP to join us for a Consumer Advisory Board meeting in Washington, D.C., where we will discuss arbitration, trends and themes in the marketplace, and reaching limited English-speaking consumers.
