This summer, the Consumer Financial Protection Bureau issued a rule that prevents financial companies from using arbitration clauses to deny groups of consumers the ability to pursue their legal rights in court. We put this rule in place after conducting a comprehensive study that found that arbitration clauses were effectively blocking billions of dollars of relief for millions of harmed consumers. Still, some continue to question the impact of our rule on consumers and financial institutions. CFPB Director Richard Cordray recently addressed these criticisms in a column, published in on October 16. For more information, see responding to an inquiry from U.S. Senator Sherrod Brown (including a memorandum from the Bureau’s Office of Research) and Director Cordray’s August op-ed in the New York Times.