Tag Archives: CFPB

Can the CFPB’s Rule on Arbitration Agreements Be Saved?

Last year, the Consumer Financial Protection Bureau (CFPB) proposed a new rule that would have prevented financial institutions from using forced arbitration clauses to block consumers from filing class-action lawsuits. Forced arbitration clauses, which are often hidden within lengthy and complicated financial services contracts, keep consumers from filing class-action lawsuits when they have been defrauded by these businesses. Consumers can file individual lawsuits against financial services providers, but the amount…
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