CFPB Issues Small Entity Compliance Guide on Arbitration Rule
The Consumer Financial Protection Bureau on Friday released a small entity compliance guide on the bureau’s final rule drastically constricting the use of mandatory arbitration agreements in consumer...
View ArticleArbitration Rule to Raise Cost of Credit 25 Percent, OCC Study Finds
The OCC has conducted a study finding that the Consumer Financial Protection Bureau’s arbitration rule is likely to increase the cost of credit by about 25 percent once lenders factor in the cost of...
View ArticleTreasury: CFPB Arbitration Rule Will Impose Major Costs on Consumers
The Consumer Financial Protection Bureau’s rule virtually prohibiting mandatory arbitration for financial products will impose significant costs on consumers and businesses and enrich plaintiffs’...
View ArticleSenate Votes to Overturn CFPB’s Arbitration Rule
The Senate tonight voted to overturn the Consumer Financial Protection Bureau’s controversial final rule on arbitration, exercising its authority under the Congressional Review Act to reject new...
View ArticleOCC’s Noreika Applauds Senate Action to Overturn Arbitration Rule
Acting Comptroller of the Currency Keith Noreika today commended Senate lawmakers for stopping the Consumer Financial Protection Bureau’s controversial arbitration rule. The post OCC’s Noreika...
View ArticleTrump Makes Arbitration Rule Repeal Official
President Trump this afternoon signed the Congressional Review Act resolution invalidating the Consumer Financial Protection Bureau’s final rule that had effectively banned the use of mandatory...
View ArticleNewsbytes Podcast: From Jay Powell to the ‘Joy of Zelle’
It's a big news week on the latest episode of the ABA Newsbytes Podcast. Co-hosts Evan Sparks and Shaun Kern discuss the appointment of Jay Powell as Federal Reserve chairman and the final repeal of...
View ArticlePodcast: Prodding Class Action Attorneys to Deliver More for Consumers
In recent years, high-profile class action settlements have been criticized for delivering little to no monetary relief to plaintiffs, instead, providing coupons, injunctive relief or "cy pres" relief...
View ArticleTrade Groups: ALI Restatement of Law Could Have Implications for Customer...
The American Bankers Association this week joined a group of other trade associations and companies in a letter to the American Law Institute Council opposing a proposed restatement of the law for...
View ArticleABA Opposes Legislative Efforts to Curb Use of Arbitration
In a statement for the record of a Senate Banking Committee hearing today, the American Bankers Association said it will continue to oppose legislative efforts to limit the use of arbitration clauses...
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