Archive of closed notices

The CFPB is proposing to establish regulations governing arbitration agreements in contracts for consumer financial products and services. First, the proposed rule would prohibit covered providers from using an arbitration agreement to bar the consumer from filing or participating in a class action. Second, the proposal would require a provider that is involved in an arbitration to submit specified arbitral records to the Bureau.

The Bureau requests specific suggestions from the public to help identify the appropriate scope of the Study, as well as appropriate methods and sources of data for conducting the Study. Based on the information received, the Bureau may consider soliciting further feedback.