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.
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.
RSVP to join us for a field hearing in Denver, Colo., about arbitration.
Today, we held a field hearing on arbitration in Newark, N.J. The event featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public.
Tens of millions of consumers use financial products or services like credit cards and student loans that include pre-dispute arbitration clauses in their agreements. These clauses can require disputes be resolved through arbitration, rather than through the court system. Since 2012, we’ve being working on a study of arbitration provisions and report to Congress. Here’s what we learned and why it matters.
Join us for a field hearing in Newark, N.J. on arbitration.
Today, we held a field hearing in Dallas on arbitration. The live event has ended. The event featured remarks from Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. A recording of the event will be available here soon.
Join us for a field hearing in Dallas, Texas on arbitration. The hearing will take place on Thursday, December 12 at 11 a.m. CST. The event will feature remarks from CFPB Director Richard Cordray, as well as testimony from consumer groups, industry representatives, and members of the public. The field hearing will take place at: […]
As part of our effort to study the use of mandatory pre-dispute arbitration clauses in consumer financial contracts, today we are proposing to conduct a nationwide telephone survey of 1,000 credit card holders. In Section 1028 of the Dodd-Frank Act, Congress instructed us to complete a study about arbitration. We released a Request For Information […]
