Our latest tips and updates on the Equifax data breach affecting millions of people.
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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.
CFPB Issues Rule to Ban Companies From Using Arbitration Clauses to Deny Groups of People Their Day in Court
Financial Companies Can No Longer Block Consumers From Joining Together to Sue Over Wrongdoing
Today, we are announcing a final rule that prevents financial companies from using mandatory arbitration clauses to deny groups of consumers their day in court.
Consumer Financial Protection Bureau Proposes Prohibiting Mandatory Arbitration Clauses that Deny Groups of Consumers their Day in Court
Bureau Seeks Comment on Proposal to Ban a Contract Gotcha that Prevents Groups of Consumers from Suing Consumer Financial Companies
CFPB proposes prohibiting mandatory arbitration clauses that deny groups of consumers their day in court
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.
Thank you to Albuquerque for the warm welcome you have given us. This is our 34th field hearing since the Consumer Financial Protection Bureau first opened its doors and started traveling the country to listen to the everyday concerns of American consumers. Each one of these field hearings has been valuable for us. They give us insight and substance to inform our work, and they humanize the challenges posed in the financial marketplace.
Today, we're live from Albuquerque, New Mexico, hosting a field hearing about arbitration
Thank you to the American Constitution Society for inviting me to speak today as part of the Access to Justice Series. I have a deep appreciation for the work you are doing to bring together attorneys, both young and old, who share a common commitment to understanding how the law can be put in service […]