New protections against mandatory arbitration

Our new arbitration rule will make it easier for consumers to file or join an existing group lawsuit if they are harmed by a financial service provider, such as a bank or credit card company.

On Nov. 1, 2017, the President signed a joint resolution passed by Congress disapproving the Arbitration Agreements Rule under the Congressional Review Act (CRA). Pursuant to the joint resolution, the Arbitration Agreements Rule has no force or effect. On Nov. 22, 2017, the Bureau published a notice removing the Arbitration Agreements Rule from the Code of Federal Regulations.

The materials relating to the Arbitration Agreements Rule on the Bureau’s website are for reference only.

View the Bureau's notice removing the Arbitration Agreements Rule from the Code of Federal Regulations

Take Action Together

Watch to see how mandatory arbitration clauses deny groups of people their day in court.

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Resources

Understanding arbitration for consumers

If you want to learn more about arbitration and how we’re working to protect your rights, we have additional information and resources.

Read the blog announcing the new rule

Key milestones in the rulemaking process

Date	Milestone
April 24, 2012	CFPB launched a public inquiry into how consumers and financial services companies are affected by arbitration and arbitration clauses.
Dec. 12, 2013	CFPB releases the Arbitration Study Preliminary Results and held a field hearing including remarks by Director Cordray. Learn more in the press release.
March 10, 2015	CFPB releases the Arbitration Study final report and held a field hearing including remarks by Director Cordray. Learn more in the press release and our blog.
Oct. 20, 2015	The CFPB convened the Small Business Review Panel. The Small Business Review Panel Outreach Meeting with Small Entity Representatives was held on October 28, 2015. Learn more in the Final Report of the Panel published on December 11, 2015.
May 5, 2016	CFPB issued a proposed rule on arbitration agreements and held a field hearing including remarks by Director Cordray. Learn more in the press release and our blog.
Aug. 17, 2016	CFPB held a tribal consultation on the proposed rule.
July 10, 2017	CFPB issued a final rule entitled Arbitration Agreements.

About us

The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives.